Australia Stocks muted ahead of Fed meeting

Australian share market closed slight down on Tuesday, 13 December 2016, as investors elected to book recent profit on caution ahead of a two-day US Federal Reserve meeting, in which the central bank is expected to raise its reference interest rate and may also give markets a glimpse of its plans for the coming year. Investors will also be looking to for China's industrial output data for November due later in the day. Commodity firms and financials made up more than two-thirds of the losses on the index, offsetting gains from real estate and healthcare shares. At the closing bell, the benchmark S&P/ASX 200 index declined 17.80 points, or 0.32%, to 5545, while the broader All Ordinaries index dropped 18.40 points, or 0.33%, to close at 5600.70.

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