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SYDNEY, Feb 23 (Reuters) - Australian shares fell nearly 0.5 percent on Tuesday as profit taking weighed on prices that had earlier hit a three-week top.
The S&P/ASX 200 index .AXJO fell 21.62 points to 4,979.6 points, a fall of 0.43 percent at the close of trade. The benchmark rose 1 percent on Monday.
New Zealand's benchmark S&P/NZX 50 index .NZ50 rose 0.59 percent or 36.2 points to finish the session at 6,175.67 points.