Australian Market Report of January 9: Downturn Unchanged
Yesterday Australian shares ended lower as the resources sector was dragged by the dropping commodities prices. The benchmark S&P/ASX200 share index closed down 85.4 points, or 2.3%, at 3694.3, and the broader All Ordinaries index was 84.6 points lower, or 2.3%, at 3643.6. Investors forecast the economic downturn may not change in a short term with more staff layoff and grim corporate results coming.