The Australian stock market closed lower as investors face more confusion about the United States Federal Reserve's tapering timeline and concerns about the US October debt ceiling debate, despite strong data from China.
At the 1615 AEST official market close, the benchmark S&P/ASX200 index fell 0.46% to 5,252.5 points, while the broader All Ordinaries index lost 0.47% to 5,245.8 points.
IG analyst Chris Weston said selling has been broad-based across the sectors in the local market today.
"Overall we remain constructive on the equity market, especially given the Fed’s dovish actions," Mr Weston said.
"However fund managers are finding it harder and harder to find value."
