Australian Market is Losing onto Early Gains

• Australian market is losing onto early gains after strong gains on Wall Street and European markets at the end of the last week. In morning session, the benchmark S&P/ASX 200 index opened flat at 5263.90 and the broader All Ordinaries opened at 5,260.

• ASX 200 is losing morning session gains as interest rate spikes in China, caused heavy losses in Chinese markets, are also on investors' minds. In coming sessions, the local market would be affected by fund managers closing positions for the end of the month.

• Australian dollar is trading marginally stronger against dollar. It is presently buying 89.23 US cents from 88.74 US cents.

ASX 200 Tips