Aust stocks fall at noon
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The Australian stock market is lower at noon after local data showed a swing to a trade deficit against analyst expectations.
At 1020 AEST, the benchmark S&P/ASX200 index was 0.72% lower at 5,124.3 points, while the broader All Ordinaries index fell 0.66% to 5,122.4 points.
In economic news, the Australian Bureau of Statistics released international trade in goods and services data for July, showing a swing to a trade deficit of $765 million in seasonally adjusted terms.
The local market shrugged off stronger Wall Street leads after United States stocks posted the largest one-day rise in five weeks, which IG analyst Evan Lucas said was not unexpected.
"The US is coming off its worst month since May 2012 and the ASX has outperformed the US indices by 6.2%, so it is unlikely that the local market will jump as hard and as much as its US counterparts," Mr Lucas said.
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