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.
