Aust stocks close lower

Investors flirted with giving up the year's gains in a volatile trading session, pushing the Australian stock market lower to close just clear of the 2013 open of 4649 points, as markets across the region took a hit on growing fears of a Chinese credit crunch.

Investors flirted with giving up the year's gains in a volatile trading session, pushing the Australian stock market lower to close just clear of the 2013 open of 4649 points, as markets across the region took a hit on growing fears of a Chinese credit crunch.

China's looming economic slowdown continued to weigh on markets, with concerns mounting that the country's growth would miss the People's Bank Of China’s forecasts for the first time since the Asian crisis in 1998.

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