Australia shares close at 7-week low, investors wary before earnings

Wed Feb 5, 2014 12:21am EST

(Updates to close)

SYDNEY Feb 5 (Reuters) - Australian shares fell 0.5 percent on Thursday to a 7-week closing low as some investors struggled to come to terms with the Reserve Bank of Australia's decision to drop its easing bias, while caution before the upcoming earnings season also dampened sentiment.

The S&P/ASX 200 index lost 26.8 points to finish at 5,070.3, its lowest close since Dec. 12. The benchmark tumbled 1.8 percent in the previous session, the biggest daily drop in six months.

New Zealand's benchmark NZX 50 index edged up 0.1 percent or 5.3 points to finish the session at 4,807.9. (Reporting by Thuy Ong; Editing by Kim Coghill)

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