Australia shares fall 0.2 pct on Wall St slip, China concerns

Tue Jan 7, 2014 12:22am EST

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SYDNEY Jan 7 (Reuters) - Australian shares shed early gains and slipped 0.2 percent on Tuesday, as sentiment was dampened by Wall Street's decline on a mixed bag of economic data and by lingering caution about Chinese growth.

The S&P/ASX 200 index lost 7.9 points to 5,317.0. The benchmark fell 0.5 percent in the previous session, its biggest one-day drop in three weeks.

Boart Longyear climbed 6.8 percent to A$0.47, its highest price in 2-1/2 months, after appointing a new CFO.

New Zealand's benchmark NZX 50 index slipped 0.1 percent to finish the session at 4,759.6. (Reporting by Thuy Ong; Editing by Richard Borsuk)