Australia shares fall 0.6% to 1-month low

Australian stocks fell 0.6 per cent to its lowest close in nearly a month on Wednesday,hurt by the commodities sell-off and fears that massive floods in northern Queensland state would hurt miners.

Global miner BHP Billiton dropped 1 per cent and rival Rio Tinto 0.85 per cent after a market-wide spasm of risk aversion saw commodities score their biggest daily fall in seven weeks.

The benchmark S&P/ASX 200 index fell 27.58 points to 4,714.90,its third consecutive daily drop,according to latest available data.

New Zealand’s benchmark NZX 50 index firmed 0.5 per cent to 3,324.99.