Aust stocks close lower

Local market slips as global investors stay in holding pattern due to short US week.

The Australian stock market has closed lower despite stronger than expected local construction work data as investors around the world stay put during a shorter United States week.

At the 1615 AEDT official market close, the benchmark S&P/ASX200 index was 0.45% lower at 5,332.9 points, while the broader All Ordinaries index fell 0.48% to 5,324.9 points.

IG analyst Stan Shamu said the pullback at the end of US trade resulted in a subdued performance across Asia, with both the ASX 200 and the Nikkei weaker.

"With US markets in for a shortened trading week, global markets remain in a holding pattern with limited reaction to some of the economic releases we have received," Mr Shamu said.

Australian Bureau of Statistics data released today showed construction work done rose 2.7% in the September quarter, well above expectations.

Materials weighed on the market, with the major miners in the red.

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