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SYDNEY, Sept 15 (Reuters) - Australian shares tumbled to a three-week low on Tuesday as the emergence of Malcolm Turnbull as prime minister elect failed to inspire investors, and falling commodity prices sent resources lower. ID:nL4N11L1IL
The changeover of futures contracts set to expire on Sept. 15 YAPCM1 also generated heavy trading in those derivatives, draining volume from the equities market and exaggerating the fall.
The S&P/ASX 200 index .AXJO followed overseas markets by falling 1.5 percent or 78.1 points to 5,018.4, its lowest finish since hitting a two-year low on Aug. 24. The benchmark is down 11 percent since the start of August.
New Zealand's benchmark NZX 50 index .NZ50 fell 13.5 points or 0.2 percent to finish the session at 5,652.4.