Australia shares slip to lowest close since March 28

Wed Jun 18, 2014 2:21am EDT

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SYDNEY, June 18 (Reuters) - Australian shares slipped 0.3 percent to hover at 4-week lows on Wednesday as investors remained cautious over turmoil in Iraq and ahead of a statement from the U.S. Federal Reserve at the end of its two-day policy meeting.

The S&P/ASX 200 index dropped 18 points to 5,382.7 at the close of trade, its lowest close since March 28. The benchmark fell 0.2 percent on Tuesday.

New Zealand's benchmark NZX 50 index slipped 0.2 percent, or 9 points to 5,184.5. (Reporting by Thuy Ong; Editing by Richard Borsuk)

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