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Australia shares hover near 5-1/2 year highs; caution over valuations
February 26, 2014 / 5:26 AM / 4 years ago

Australia shares hover near 5-1/2 year highs; caution over valuations

(Updates to close)
    SYDNEY, Feb 26 (Reuters) - Australian shares finished
slightly higher on Wednesday, with investors becoming cautious
over stocks that have become pricey after the market touched a
5-1/2-year intraday high in the previous session.
    The S&P/ASX 200 index edged up 0.1 percent or 3.2
points to 5,437.0. The benchmark slipped 0.1 percent on Tuesday,
pulling back from intraday gains to levels last seen in June
2008.
    A largely upbeat earnings season has seen the market
rebounding from a loss of 3 percent in January to add nearly 5
percent so far this month.
    New Zealand's benchmark NZX 50 index added 0.1
percent to 4,973.2.
    
    

 (Reporting by Maggie Lu Yueyang; Editing by Chris Gallagher)

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