(Updates to close)
SYDNEY, Sept 3 (Reuters) - Australian shares changed course and fell near a two-year low on Thursday as retail giant Myer MYR.AX slumped following a capital raising and volatile global markets kept investors on the sidelines.
After opening higher, the S&P/ASX 200 index .AXJO reversed course to close down 1.4 percent or 73.7 points at 5,027.8. Aside from an Aug. 24 trough, it was the benchmark's weakest finish since July 2013. The index has dropped 12 percent in the past month.
New Zealand's benchmark NZX 50 index .NZ50 fell 20.5 points or 0.4 percent to finish the session at 5569.7.