The share market has suffered its fifth fall in just six sessions, despite surprisingly positive data out of China.
Large sell-offs on US and European markets on Friday, due to global growth concerns, saw the local market open lower, dropping more than one per cent in early trade.
But better than expected Chinese trade figures gave the miners and the wider market a boost in the afternoon, CommSec market analyst Tom Piotrowski said.
“Import and export figures from China were stronger than expected, helping squeeze the resources sector higher,” he said.
“Iron ore futures in China also rallied and that has been adding to the iron ore miners.”
Fortescue Metals Group gained 20 cents, or 6.1 per cent, to $3.46, Rio Tinto climbed $1.10, or 1.9 per cent, to $58.36 and BHP Billiton rose 29 cents, or 0.9 per cent, to $32.60.
However, bank shares dropped due to local data showing commercial loans slumped 16 per cent in August, while personal finance rose only modestly, Mr Piotrowski added.
Commonwealth Bank shed 67 cents to $74.13, ANZ dropped 21 cents to $31.01, Westpac lost 35 cents to $31.90 and NAB closed 10 cents weaker at $31.82.
Most other sectors were also lower, including energy, retail and industrials.
Qantas was a heavy faller, dropping five cents to $1.30 as its foreign ownership edged close to its 49 per cent cap.
KEY FACTS
* At 1615 AEDT on Monday, the benchmark S&P/ASX200 index was down 32.8 points, or 0.63 per cent, at 5,155.5 points.
* The broader All Ordinaries index was down 32.6 points, or 0.63 per cent, at 5,153.1 points.
* The December share price index futures contract was 21 points lower at 5,137 points, with 31,664 contracts traded.
* National turnover was 1.7 billion securities worth $4.8 billion.
