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Man stabbed on Elizabeth Street in Melbourne's CBD

A homeless woman has stabbed a man near a busy intersection in Melbourne's CBD, police say.

The 29-year-old man was stabbed on Elizabeth Street, near the intersection of Collins Street, about 4.15pm on Wednesday.

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Elizabeth Street stabbing

A 29-year-old man was stabbed on Elizabeth Street, near the intersection of Collins Street, about 4.15pm on Wednesday. Vision courtesy Seven News Melbourne.

The man and woman were reportedly involved in an altercation, before the man was stabbed in the stomach.  

A 55-year-old woman was arrested at the scene, near an Officeworks store and Subway fast food outlet.

Paramedics treated the man for serious upper body injuries and he was taken to the Royal Melbourne Hospital in stable condition.

Tram services on Elizabeth Street were suspended, before they resumed about 5pm.

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However, trams are not stopping at Stop 2 on Elizabeth Street, as police examine the scene.

Police closed Elizabeth Street, between Collins and Little Collins streets, and diverted traffic and pedestrians along Swanston Street.

The road was re-opened to traffic about 6.30pm.

The woman was being questioned by police on Wednesday night.