Overnight Wall Street fell following a massive sell-off in Chinese shares, which plunged 6.7 per cent on Monday. The Shanghai Composite index has lost more than 20% of its value in one month.
The Australian shares closed flat Thursday as the market was awaiting more US corporate financial results. The benchmark S&P/ASX200 index fell 4.6 points, or 0.1 per cent, at 3763.3 points, while the broader All Ordinaries index also lost 4.6 points, or 0.1 per cent, to 3761.4 points. The market sentiment was buoyed by the better-than-expected jobs data released yesterday.
The Australian shares fell in late trading on Monday, pulled by energy sector. The benchmark S&P/ASX200 lost 16.9 points, or 0.43 per cent, to 3886.9, and the broader All Ordinaries was down 16.8 points or 0.43 per cent to 3882.7. Analysts expect the local market remained directionless ahead of the financial year end.
The Australian stocks closed Friday with little change after falls from early highs. The benchmark S&P/ASX200 index declined one point, or 0.03 per cent, to 3344.5, while the broader All Ordinaries fell half a point, or 0.02 per cent, to 3296.9. With the reporting seasons over, the market focus will return to the economic data and RBA's rate cut decision this week.
Yesterday Australian market closed lowered as banks stocks plunged after Westpac(ASX:WBC) announced its A$2.5 billion capital raising. The benchmark S&P/ASX200 index had lost 27.3 points or 0.75 per cent to 3604.3, while the broader All Ordinaries was down 20.1 points or 0.57 per cent at 3533.7. Analysts expect more companies such as Commonwealth Bank(ASX:CBA) may also have to raise capital.