Australia market drops 0.6% despite strong GDP data

Australian share market finished lower on Wednesday, 04 June 2014, as risk aversion selloff continued for second day despite solid economic growth figures for the March quarter. All sectors declined, exception being property trust and bullion counters, with shares of retailers, consumer goods, financials, industrials, and mining companies leading losses. The benchmark S&P/ASX200 and the broader All Ordinaries each declined by 0.6% to 5448.80 and 5426.80, respectively.

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