SYDNEY: The Australian stocks has abandoned its pursuit of the increasingly elusive 6000 point threshold, at least temporarily, as it followed Wall Street lower at the open on the back of weakness in mining stocks.
At the 10.15am (AEST) official market open the benchmark S & P/ASX200 index was down 24.2 points, or 0.41 per cent, at 5936.1 points, while the broader All Ordinaries index was down 23.5 points, or 0.4 per cent, at 5904.6 points.
In the previous session, the benchmark index got within four points of 6000 before falling out of reach on weaker Chinese data.
CMC chief market strategist Michael McCarthy said it is a “good news, bad news” day for Australian investors, with leads pointing in different directions.
“Weaker share markets overnight are offset by commodity gains, and uncertainty around the beginning US reporting season is compounded by recent extraordinary China trade data,” he said.
