Australian Market Closed Negative After Banks Sell-Off

• The Australian market closed lower after the banking shares saw a big sell-off today. The benchmark S&P/ASX 200 index lost 20.3 points, or 0.4 per cent, to 5292.1, while the broader All Ordinaries lost 19.5 points, or 0.4 per cent, to 5296.8.

• The Australian dollar is also trading weaker against US dollar at 90.27 US cents after disappointing US jobs data.

• Among the major sectors, financials dropped 0.7 per cent, energy lost 0.6 per cent and consumer discretionary shed 0.6 per cent, while materials added 0.4 per cent.

ASX 200 Tips