Australia market tumbles on weak China factory data

The Australian share market ended steeply down on Wednesday, 23 September 2015, as risk aversion selloff triggered across the board, on tracking drop in Wall Street and European markets in overnight trading. Meanwhile selloff pressure intensified after weaker than expected factory activity data from China, which showed a fall to 47.0 in September from 47.3 the month before, a lowest reading since March 2009. All ASX sectors declined, with material, energy, financial, consumer discretionary, and consumer staples issues being major losers. The benchmark S&P/ASX 200 index dropped 105.50 points, or 2.1%, to end at 4998.10 points, while the broader All Ordinaries index lost 98.30 points, or 1.9%, to 5032.50 points.

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