Australia market tumbles to 8-month low

The Australian share market plummeted to eight month low on Friday, 21 August 2015, as risk aversion selloff after weaker-than-expected China manufacturing data heightened concern the economic slowdown in Australia's biggest trading partner is deepening. All ASX sectors closed lower, with financials were the hardest hit. Meanwhile, selloff pressure was evident in realty, property trusts, healthcare and retailers. The benchmark S&P/ASX 200 Index stumbled 74 points, or 1.4%, to 5214.60 points, while the broader All Ordinaries Index tanked 70.70 points, or 1.34%, to 5224.80 points.

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