Australian stocks lower by break, S&P 200 sink 18.5pts, All Ordinaries drops 0.35%

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SYDNEY: The Australian stocks remained lower by break, as continued weaker global oil prices put pressure on local energy and resources stocks.
At 12.05pm (AEDT), the benchmark S & P/ASX200 index was down 18.5 points, or 0.36 per cent, at 5,167.6 points, while the broader All Ordinaries index fell 18.3 points, or 0.35 per cent, to 5,146.3 points.
IG market strategist Stan Shamu said the weakness was spread across the market.
“There are very few bright spots,” he said.
Mr Shamu said that with the market down more than six per cent since the start of November, investors lacked the confidence to invest in it at the moment.
“There doesn’t seem to be much to inspire investors to dive into markets just yet … it’s basically like trying to catch a falling knife,” he said