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Japanese and Australian shares took a tumble today, with the former notching up its biggest one-day fall in a fortnight.

Japan’s Topix closed 1.6 per cent lower, with utilities and materials stocks the worst-performing sectors. It was the biggest fall since March 22.

Australia’s S&P/ASX 200 dropped 0.3 per cent, its biggest fall since Friday. Heavyweight financial stocks did the damage, with the four major banks each down by more than 1 per cent.

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