Australia stocks tumble 1.4% from six-year peaks

Australian stock market declined on Friday, 01 August 2014, breaking three-days winning streak, amidst profit taking across the board on tracking a big selloff on offshore markets overnight and on caution before official start of earnings season. The benchmark S&P/ASX 200 Index dropped 76.50 points, or 1.36% to 5556.40, while the broader All Ordinaries Index sank 75.50 points, or 1.34%, to 5547.60. The benchmark S&P/ASX 200 Index and the broader All Ordinaries Index each ended the week 0.5% lower.

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