Evening Report: Shares Retreat After Chinese Growth Figures Miss Expectations

An early afternoon recovery for the share market was stymied by weaker than expected growth figures from China. At the close of trade the ASX 200 was down 35 points or 0.5%. Notwithstanding today’s weakness the market rose for a second consecutive week with an improvement of more than 0.5% – although the sizeable falls early October means the Index is still down 0.6% for the month.

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Lunch Report: ASX 200 Follows Wall St Lower On Weaker Growth Pulse

Local shares followed US stocks lower following figures overnight revealed that the US manufacturing purchasing managers’ index fell to the lowest since June 2009. Every ASX was lower at lunch, although Financials were the main weight on the market. Property names fell the least supported by yesterday’s rate cut and the prospect of even lower rates in the near term.

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