May 23, 2016 / 7:20 AM / 4 years ago

Australia stocks slip as weakness in iron ore hits miners, NZ eases

(Updates to close)

SYDNEY, May 23 (Reuters) - Australian share fell to their lowest in nearly two weeks on Monday as weaknesses in iron ore prices weighed on the major miners, while a soggy performance by the big banks ensured a negative start to the week.

The S&P/ASX 200 index dropped 0.6 percent, or 32.40 points, to 5318.90 at the close of trade. The benchmark hit its lowest point since lowest point since May 6.

New Zealand’s benchmark S&P/NZX 50 index eased slightly, off 0.3 percent or 2.09 points to finish the session at 6907.77. (Reporting by Matt Siegel; Editing by Shri Navaratnam)

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