Markets

Australian Stock Market Report – Afternoon 3-21-13

MARKET CLOSE

(4.30pm AEDT)

Despite creeping into positive territory at times, the Australian market fell once again, with the All Ordinaries Index slipping 0.1 per cent to 4976.8. So far, this has been the biggest weekly pullback for the local market in 10 months, when the All Ords lost 5.62 per cent in just five days.

A better than expected reading on the health of China's manufacturing industry did little to help markets for the duration of the session. The HSBC Flash Manufacturing gauge rose from 50.4 to 51.7. A number above 50.0 indicates industry expansion. CommSec's Chief Economist, Craig James said that "The latest economic news from China continues to encourage and that is good news for the Australian resources sector."

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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