Aust stocks close 0.5% lower

Local market falls after disappointing capex data, sweeping cuts from Qantas.

The Australian stock market has closed half a per cent lower after weaker than expected business investment data and the confirmation of sweeping cuts from Qantas Airways Ltd.

At the 1615 AEDT official market close, the benchmark S&P/ASX200 index lost 0.47% to 5,411, while the broader All Ordinaries index fell 0.48% to 5,421.

IG market analyst Stan Shamu called the private capital expenditure data "disappointing".

"Following the Reserve Bank of Australia's recent switch to a more neutral bias, the market would have really wanted to see signs of a turnaround in today’s figures," Mr Shamu said.

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