Australia shares slip, most sectors fall

Wed Jun 25, 2014 2:21am EDT

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Australian shares close - Australian shares slipped 0.57 percent on Wednesday, dragged down by a weakness in most sectors with miners losing ground and the deepening crisis in Iraq curbing risk appetite.

The S&P/ASX 200 index lost 30.78 points to close at 5,402, its lowest closing level this week so far. It closed 0.4 percent lower on Tuesday.

The benchmark fell to near two-week lows in early trades after hitting a near 6-year high of 5,536.1 on April 29, as a rout in iron ore prices, geopolitical tension in Ukraine and unrest in Iraq hit investor sentiment.

New Zealand's benchmark NZX 50 index slipped 0.33 percent, or 16.66 points to 5,104.54. (Reporting by Swati Pandey; Editing by Eric Meijer)

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