Australia stocks drop as short selling returns

Wednesday November 19, 2008, 4:18 pm a.y7sc {border-bottom: 1px dashed rgb(151,151,204);text-decoration:none;color:black;background: transparent none repeat scroll 0%; cursor: pointer; color:#333;} a.y7sc:hover {cursor: pointer; text-decoration:none;color:#00F;border-bottom: 1px solid #00F;} a.y7sc:visited {border-bottom: 1px dashed #639;text-decoration:none;color:#333;}

(Updates to provisional close)

SYDNEY, Nov 19 (Reuters) - Australian shares fell 0.7 percent on Wednesday, its fourth straight lower close, as the resumption of short selling in non-financial stocks triggered falls in some companies which had outperformed in the recent sharp downturn. The benchmark S&P/ASX 200 index JO lost 23.6 points to 3,499.6, based on the latest available data, a fresh four-year closing low and adding to a 3.6 percent slide on Tuesday. (Reporting by Mette Fraende)

... read full article