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Australian stocks tumble for 3rd day at end, S&P 200 slips 31.5pts

Australian stocks tumble for 3rd day at end, S&P 200 slips 31.5pts

SYDNEY: Australian stocks tumbled for the third straight session on Wednesday as energy stocks led the market lower and investors remained cautious heading into company reporting season.

A recent bull run lasting 12 straight sessions, equal to the country’s longest ever, has convinced many investors to take profits, while uncertainty about a resolution to the Greek debt crisis contributed to the hesitant tone.

The S&P/ASX 200 index fell 31.5 points or 0.5 percent to 5769.1 at the close of trade.

New Zealand’s benchmark NZX 50 index rose 5.1 points or 0.1 percent to finish the session at 5789.2.