THE share market has continued its fall with the materials sector leading the losses on reports the economies of Australia's three most important export destinations are softening.
At 3.30pm (AEDT), the benchmark S&P/ASX200 index was down 141.5 points, or 4.06 per cent, at 3345.3.
At 3.34pm the broader All Ordinaries index had fallen 123.7 points, or 3.6 per cent, to 3,308.2.
IG Markets research analyst Ben Potter said on Friday the materials sector was the worst performer on the local bourse.
"The materials sector is being hit heavily by concerns over the economies of our major export partners, Japan, China and South Korea,'' Mr Potter said.
This followed news on Thursday that China's GDP growth had slowed, as expected.
"It's not a healthy picture,'' Mr Potter said.
"Concerns about slowing demand for materials is being reflected in share prices and there are expectations these Asian economies will slow even further.''
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