(Updates to close)
SYDNEY Aug 1 Australian shares fell 1.4 percent
on Friday after Wall Street tumbled overnight on fears the
Federal Reserve may start its rate-tightening cycle sooner than
expected, and investors were also cautious ahead of U.S.
non-farm payrolls data due later.
The S&P/ASX 200 index dropped 76.5 points to 5,556.4
at the close of trade, for its biggest one-day percentage loss
since March 14. The benchmark rose 4.4 percent in July.
Woodside Petroleum Ltd dropped 1.4 percent after
failing to win shareholder approval to buy back $2.68 billion of
its shares from Royal Dutch Shell Plc.
New Zealand's benchmark NZX 50 index lost 1.1
percent, or 58.1 points, to 5,109.9.
(Reporting by Thuy Ong; Editing by Alan Raybould)