Aust stocks close lower

Local market falls as QBE plummets after flagging a $US250 million full-year loss, Chinese inflation misses expectations.

The Australian stock market closed weaker after QBE Insurance Group Ltd plummeted on flagging a full-year loss due to goodwill write-downs in its North American business.

At the 1615 AEDT official market close, the benchmark S&P/ASX200 index was 0.8% lower at 5,144.4 points, while the broader All Ordinaries index fell 0.73% to 5,148.4 points.

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