Aust stocks close lower

Local market follows a weak performance in China on reports of a new tax.

The Australian stock market has closed lower, giving up early gains as a weak performance in China weighed.

At the 1615 AEDT official market close, the benchmark S&P/ASX200 index fell 0.25%, to 5,387.1 points, while the broader All Ordinaries index lost 0.25% to 5,380.8 points.

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