You are here

Australia: Shares open 1.41% lower

austocks2.jpg
Australian shares rebounded on Tuesday as investors picked up beaten-down bank stocks, a day after the market suffered its biggest drop in over six years.

[SYDNEY] Australian stocks dropped 1.41 per cent at the open on Tuesday amid growing anxiety about a slowdown in China's economy, but the market held up better than analysts expected.

The benchmark S&P/ASX200 index was 70.4 points lower at 4,930.9 in early trade, having lost 4.09 per cent on Monday.

AFP

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes