Aust stocks close sharply lower

Local market slips below 5,100 level as RBA removes easing bias, Wall St slumps on weak manufacturing data.

The Australian stock market closed heavily in the red, following the Reserve Bank of Australia's removal of its easing bias and a Wall Street slump on weak manufacturing data from the United States and China.

At the 1615 AEDT official market close, the benchmark S&P/ASX200 index fell 1.75% to 5,097.1 points, while the broader All Ordinaries index declined 1.69% to 5,114.1 points.


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