Australia market tumbles 1.6%

The Australian share market finished weaker for the first time in seven consecutive sessions on Wednesday, 22 July 2015, as some investors opted withdrawing profit off the table amid weak lead from Wall Street overnight and other Asian markets. Most of the ASX blue chip declined, with stocks of earnings and output reports took centre stage. The benchmark S&P/ASX 200 Index dropped 92.10 points, or 1.61%, to 5614.60 points, while the broader All Ordinaries Index lost 85 points, or 1.49%, to 5603.50 points.

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