The share market is slightly lower at noon because of weakness in the heavyweight resources and banking sectors.
IG market analyst Stan Shamu said it had a been a quiet morning session, with the market relatively flat since trade opened.
“Materials continue to struggle but there’s no real driving force,” he said.
Local shares didn’t follow the stronger US market, which seemed to be immune to what was happening around the world, Mr Shamu said.
Investors are also cautious ahead of the release of Chinese industrial production data later on Friday.
Among the major banks, Westpac had lost 18 cents to $32.04, ANZ had dropped 12.5 cents to $31.08, Commonwealth Bank was down 52 cents at $81.67 and National Australia Bank was seven cents weaker at $32.02.
BHP Billiton was down 46 cents at $28.54, Rio Tinto had retreated 93 cents to $54.11 and Fortescue Metals had dipped 3.5 cents to $2.43.
Energy stocks enjoyed some relief after recent heavy falls on weaker oil prices, with Woodside Petroleum up 20 cents at $34.38 and Santos up 15 cents at $7.15.
Construction giant Leighton Holdings was 30 cents lower at $21.40 after it confirmed the sale of its John Holland subsidiary to a Chinese firm.
KEY FACTS
* At 1200 AEDT on Friday, the benchmark S&P/ASX200 index was down 6.6 points, or 0.13 per cent, at 5,224.4 points.
* The broader All Ordinaries index was down 5.2 points, or 0.1 per cent, at 5,202.2 points.
* The December share price index futures contract was 16 points lower at 5,216 points, with 14,895 contracts traded.
* National turnover was 575 million securities worth $1.4 billion.
