Aust stocks close lower
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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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