Australian shares are weaker, following surprisingly weak Chinese manufacturing data.
The HSBC purchasing managers’ index on Thursday showed Chinese manufacturing activity fell to a six-month low in January, with a reading of 49.6, down from December’s 50.5.
Australia’s market fell on the data and international markets overnight had followed suit, said City Index senior market analyst Kara Ordway.
“You could arguably say that it was Wall Street that followed on from us and now there’s just some consolidation in the market,” she said.
The resources sector, which sells commodities to China, was mixed with diversified miner BHP Billiton dropping one cent to $37.03 and iron ore miner Fortescue Metals also losing one cent, to $5.23 while Rio Tinto added 33 cents to $65.
Among the major banks, Westpac fell eight cents to $31.36, ANZ slumped 23 cents to $30.74, Commonwealth Bank eased 25 cents to $74.88, and National Australia Bank lost 17 cents to $33.99.
Engineering group Forge has gone into a trading halt, last trading at 90 cents, pending an announcement by the company.
Agricultural chemicals and seeds supplier Nufarm dumped seven cents, or 1.68 per cent, to $4.10 after announcing it expected to meet its first half guidance but towards the lower end of the range.
Warrnambool Cheese and Butter Factory shed 4.5 cents to $9.43 after Murray Goulburn sold its 17.7 per cent shareholding to Canadian diary giant Saputo.
On Wall Street, the Dow Jones Industrial Average slumped 1.07 per cent as the broad-based S&P 500 shed 0.89 per cent.
KEY FACTS
* At 1015 AEDT on Friday, the benchmark S&P/ASX200 index was down 10.9 points, or 0.21 per cent, at 5,252.1 points.
* The broader All Ordinaries index was down 11.2 points, or 0.21 per cent, at 5,264.3 points.
* The March share price index futures contract was 15 points lower at 5,213 points, with 7,723 contracts traded.
* National turnover was 406.5 million securities worth $623 million.
