The share market has closed weaker as a rising US dollar, sputtering Japanese economy and pending changes for the financial system weigh on investor sentiment.
OptionsXpress market analyst Ben Le Brun said a resurgent US dollar undermined the energy and materials sector, while the banking sector was impacted ahead of the release of a report by the Murray inquiry into the financial system.
Defensive sectors, such as healthcare, were also down.
News that the Japanese economy had slipped into recession, heightening concerns about slowing global growth, had not helped sentiment, Mr Le Brun said.
“It’s a bit of a day to forget, unfortunately,” he said.
Japan, the world’s third largest economy, contracted 0.4 per cent in the September quarter, a surprisingly weak result, and the second straight quarter of contraction.
Among the major banks, Commonwealth Bank fell 78 cents to $80.99, ANZ dropped 43 cents to $31.90, National Australia Bank shed 30 cents to $32.39 and Westpac sagged 31 cents to $32.72.
In healthcare, blood products manufacturer CSL dropped $1.19 to $78.72, Cochlear shed 93 cents to $71.45 and Ramsay Health Care descended $1.00 to $52.41.
Miner BHP Billiton dipped three cents to $33.22, Rio Tinto lost 15 cents to $59.90, while Fortescue Metals jumped 13 cents to $3.18.
KEY FACTS
* At the close on Monday, the benchmark S&P/ASX200 index was down 41.8 points, or 0.77 per cent, at 5,412.5 points.
* The broader All Ordinaries index was down 37.2 points, or 0.68 per cent, at 5,396.6 points.
* The December share price index futures contract was 42 points weaker at 5,427 points, with 24,896 contracts traded.
* National turnover was 1.21 billion securities worth $3.08 billion.
