Australian shares fell on Wednesday as banks led most sectors lower on concerns about political stability in Greece, sluggish Chinese economic growth and weak commodity prices.

The S&P/ASX 200 index fell 0.45 per cent or 23.67 points to close at 5,259.00, extending the previous day’s losses.

New Zealand's benchmark NZX 50 index fell 0.35 per cent or 19.36 points to finish the session at 5,523.58.

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