SYDNEY: The Australian share market fell into negative territory at noon in volatile trading following the release of official investment figures.
At 12.05pm (AEST), the benchmark S & P/ASX200 index was down 21.3 points, or 0.37 per cent, at 5704, while the broader All Ordinaries index fell 18.3 points, or 0.32 per cent, to 5705.9.
After opening slightly higher, the benchmark index turned lower before noon as official private capital expenditure data missed expectations.
According to the Australian Bureau of Statistics, total capex fell by 4.4 per cent, double the 2.2 per cent drop economists had predicted, as the tail-end of the mining investment boom drags on spending.
The Australian dollar dropped nearly half a US cent on the news, as investors pushed the currency down to the low US77c level.
The sharemarket experienced bumpy trade after the news, as the bond market priced in future Reserve Bank rate cuts for the first time in several weeks.
