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Australian stocks drop 1.53% at open after Greece vote

Australian stocks drop 1.53% at open after Greece vote

SYDNEY:  Australian stocks dropped 1.53 per cent at the open after Greece rejected fresh austerity demands by the country’s EU-IMF creditors in a landmark referendum.

The benchmark S&P/ASX200 index was trading 84.7 points lower at 5,453.6 soon after the start, although weekend moves by China to stabilise its volatile local markets appeared to help stem some of the bleeding.