Australian Market is Going Negative

• The Australian market is losing the heat despite a positive start in morning session. The benchmark S&P/ASX 200 index opened at 5,316 and the broader All Ordinaries index opened at 5319.

• Around mid day session, the benchmark S&P/ASX 200 index was down 6.5 points, or 0.1 per cent, at 5,310.5 points, while the broader All Ordinaries index fell 6.1 points, or 0.11 per cent, at 5,312.7 points.

• The local market started strongly today morning supported by strong rallies in Europe and US markets but then investors started feeling nervous about Chinese economic data to be released later this week and early next week.

• Australian dollar is trading up and down against US dollar. Presently, the local currency (AUD) is trading at 89.22 US cents.

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