Aust stocks open lower

Local market opens deep in the red following sharp falls on Wall Street.

The Australian sharemarket has opened deep in the red, following significant falls on Wall Street overnight as investors weighed soft Chinese trade data and a shift away from high-growth tech and biotech stocks.

At the 10.15am (AEST) official market open, the benchmark S&P/ASX200 index declined 46.6 points, or 0.85%, to 5,434.2, while the broader All Ordinaries index lost 49.1 points, or 0.9%, at 5,428.4.

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