Australian Market Report of January 25: Hit by US and China Jitters
The Australian sharemarket posted a sharp loss for second straight day to a one-month closing low on Friday. The market pressured by worries about a slowdown in China and concerns over U.S. President Barack Obama's proposed stricter regulations on banks. At the close, the benchmark S&P/ASX200 index and the broader All Ordinaries index both tumbled 1.6 per cent. For the week, the ASX 200 fell 3.2 per cent, its worst weekly return in 12 weeks.