Australia stocks fall on weak global cues

Australian share market finished the session steep lower on Wednesday, 09 July 2014, registering third day of fall in row, as risk sentiments hammered on tracking negative lead from Wall Street overnight. Meanwhile, selloff pressure intensified after disappointing local consumer confidence data and weaker than expected Chinese inflation data. Except bullion, all ASX sectors closed down, with shares in materials, energy, industrials, financial and consumer discretionary sectors being the biggest drags. The benchmark S&P/ASX200 erased 1.06% to 5452.50, while the broader All Ordinaries de-grew 1.02% to 5442.20.

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