News from AAP

Market lower, after further China rout

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Australian shares are lower as the resource sector feels the flow-on effects of China’s market rout and a drop in commodity prices.

BHP Billiton has lost 38 cents to $25.14 and Rio Tinto is down 65 cents at $50.54.

Meanwhile, the broader market has also been dragged down by the big four banks with worst performer Westpac bleeding 44 cents to $33.92.

But biotech giant CSL’s shares were a bright spot, shooting up $1.12 to $95.77 following news that the US Food and Drug Administration would review its latest haemophilia treatment.

KEY FACTS

* At 1205 AEST, the benchmark S&P/ASX200 index was down 47 points, or 0.84 per cent, at 5,5578.9 points.

* The broader All Ordinaries index was down 48.2 points, or 0.86 per cent, at 5,5579.1 points.

* The September share price index futures contract was 59 points lower at 5478 points, with 15,937 contracts traded.

* At 1232 AEST national turnover was 1.034 billion securities worth $2.311 billion.