Aust stocks close lower

Local market falls as lower than forecast Chinese data weighs on resources.

The Australian stock market has closed lower as the resources sector came under pressure from Chinese data that printed slightly below expectations.

At the 1615 AEDT official market close, the benchmark S&P/ASX200 index fell 0.77% to 5,104.2 points, while the broader All Ordinaries index fell 0.71% to 5,109.5 points.

IG analyst Chris Weston said mining stocks outside of gold have struggled to get traction today.

"Resource names have certainly not been assisted by a Chinese market under reasonable pressure, after yesterday’s slightly-below-expectations data dump (industrial production, fixed asset investment and retail sales)," Mr Weston said.

InvestSMART FORUM: Come and meet the team

We're loading up the van and going on tour from April to June, with events on the NSW central & north coast, the QLD mid-north coast and in Perth, Adelaide, Melbourne, Sydney and Canberra. Come and meet the team and take home simple strategies that you can use to build an investment portfolio to weather any storm. Book your spot here.

Want access to our latest research and new buy ideas?

Start a free 15 day trial and gain access to our research, recommendations and market-beating model portfolios.

Sign up for free

Related Articles