Australia shares drop to 5-week low on Wall Street fall, global tensions

Fri Aug 8, 2014 2:27am EDT

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SYDNEY Aug 8 (Reuters) - Australian shares fell to five-week low on Friday, after Wall Street extended its losses on concerns that tensions between Russia and the West and tit-for-tat sanctions may hit global growth.

The S&P/ASX 200 index lost 1.3 percent or 73.7 points to 5,435.3 at the close of trade to mark its sixth consecutive day in the red, its longest losing streak since early December.

The marked dipped 0.1 percent on Thursday and 2.2 percent for the week, its biggest one-week loss since mid-March.

New Zealand's benchmark NZX 50 index lost 0.8 percent or 42.3 points to finish the session at 5,055.2. (Reporting by Thuy Ong; Editing by Richard Borsuk)

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