Australia market tumbles on global rout

The Australian share market declined further on Tuesday, 01 September 2015, as risk aversion selloff sparked by a weak lead from Wall Street and on disappointment after the Reserve Bank of Australia's kept interest rate unchanged. Meanwhile, selloff momentum intensified after China's official and private sector PMI gauges showed weakness across manufacturing and service industries. All ASX sectors posted losses, with financial, technology, energy, materials, and consumer staples stocks being major drag of the day. The benchmark S&P/ASX 200 index stumbled 110.60 points, or 2.12%, to 5096.40 points. The broader All Ordinaries index closed 105 points, or 2.01%, down at 5117.10.

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