Aust stocks close slightly lower
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The Australian stock market closed slightly lower today as stronger than expected Chinese manufacturing data failed to spur buying.
At the 1615 AEDT official market close, the benchmark S&P/ASX200 index was 0.27% lower at 5,411.1 points, while the broader All Ordinaries index declined 0.25% to 5,406.5 points.
IG analyst Chris Weston said the purchasing managers' index from China's National Bureau of Statistics was a good set of figures, beating expectations to print at 51.4 in October, higher than the September read of 51.1.
A reading above 50 indicates expansion, while a print below signals contraction.
"If you drill down the underlying quality of the expansion, it was not brilliant," Mr Weston said.
"The new orders sub-component fell to 52.5 from 52.8, while new exports expanded at a slower pace of 50.4 (from 50.8)."
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