Australia stocks slump further

The Australian share market slipped further on Wednesday, 12 August 2015, in the wake of China's move to devalue its currency, the yuan, for second straight day. All ten ASX sectors fell into the sea of red, with shares of technology issue was worst hit, followed by materials, energy, conaumer discretionary and consumer staples, utilities and financial stocks. The benchmark S&P/ASX 200 Index lost 91.10 points, or 1.66%, to end at 5382.10 points, while the broader All Ordinaries Index declined 89.60 points, or 1.64%, to 5383.50 points.

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