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SYDNEY, May 27 (Reuters) - Australian shares closed lower on Wednesday, snapping four straight sessions of gains, on a broad sell off led by heavy weight banks and mining stocks.
Market sentiment was dampened by a big fall on Wall Street where concerns about a Greek debt default and higher U.S. interest rates unsettled investors.
The S&P/ASX 200 index fell 0.8 percent, or 48.1 points to 5,725.3.
National Australia Bank shed 1.3 percent while Commonwealth Bank slipped 0.6 percent. Among the miners, Rio Tinto was down 1.7 percent.
New Zealand’s benchmark NZX 50 index lost 0.7 percent, or 37.9 points, to finish the session at 5,757.9. (Reporting by Pauline Askin; Editing by SImon Cameron-Moore)