THE Australian share market closed lower today weighed down by stocks leveraged to commodity markets and China.
At 4.15pm (AEDT) the benchmark S&P/ASX200 index had lost 41 points, or 0.84 per cent, to 4,827.2 points, while the broader All Ordinaries index had lost 45.5 points, or 0.93 per cent, to 4,849.6 points.
On the Sydney Futures Exchange, the March share price index futures contract was 35 points lower at 4,802 on volume of 29,287 contracts.
The market took its lead from the biggest slide on Wall Street since mid-December and two per cent falls on European markets, sparked by fears that China's decision to limit bank lending could endanger the global economic recovery.
Commodities also suffered over concerns about China, which brokers said were dispelled by strong economic growth data from Beijing on Thursday.
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"As expected, the energy and materials sectors sent the market lower,'' CMC Markets analyst David Taylor said.
"The healthcare sector found some light earlier on in the session but then followed the broader market down later. There was overall weakness created by reduced risk appetite in the market.''
BHP Billiton lost 74 cents, or 1.7 per cent, at $42.67, while rival Rio Tinto had lost $2.49, or 3.19 per cent, to $75.55.
Fortescue Metals was down 15 cents, or 2.92 per cent, at $4.99 after it said it exceeded its shipping run rate in the December quarter.
Energy stocks were also lower, with Caltex down 49 cents, or 4.98 per cent, to $9.34, Woodside Petroleum dropped 60 cents to $45.90, Oil Search fell 21 cents to $5.60 and Santos ended 15 cents weaker at $13.48.
Household wealth rises but still far below peakShares follow Wall St lower at open
