Australia market dives below 5K level

The Australian equity market declined to lowest level in more than two-months on Monday, 14 December 2015, dragged down by risk aversion selloff for fifth consecutive session, following losses on Wall Street and a further decline in commodity prices at the end of last week. Meanwhile, worries about the effect of the Fed's first rate hike in nearly a decade also weighed on sentiment. All ASX industry groups, expect gold, tumbled with declines were led by shares of energy, materials, property trusts, financials, and industrial issues. At the close, the benchmark S&P/ASX 200 index stumbled 100.90 points, or 2.01%, to finish at 4928.60 points, a lowest level not seen since September 29, 2015, when it closed at 4918.40. The ASX 200 shed 2.37% last week.

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