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2013.03.2804:42:08UTC+00Australian stocks plunged to extend monthly losses

Australian shares tumbled on Thursday trading action, the last trading session of a holiday-shortened week and also for March. The S&P/ASX 200 conceded 0.4% to 4,973.80, paring week-to-date wins to 0.2% and lengthening month-to-date falls to 2.5%. Banks were pulling the market down on Thursday, with Commonwealth Bank of Australia decline 0.7% and Australia & New Zealand Banking Corp. diving by 0.9% while Westpac Banking Corp. trading 1.1% lower.

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