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SYDNEY, Aug 7 (Reuters) - Australian shares slumped 2.4 percent on Friday, posting their biggest fall since May 2012, weighed down by banks after the ANZ Banking Group ANZ.AX reported softer-than-expected earnings and announced capital raising through a share sale. ID:nL3N10I1LH
ANZ led the falls among lenders, fuelling concerns about the growth outlook for the country's major banks. ID:nL3N10I021
The S&P/ASX 200 index .AXJO fell for a third straight session to close at 5,474.8 points. It fell nearly 4 percent for the week, its biggest weekly drop in more than two months.
New Zealand's benchmark NZX 50 index .NZ50 fell 1 percent to finish the session at 5,868.66.