China fears hit market

THE Australian share market lost more than one per cent, with financial stocks weighing heavily as renewed fears about a global growth slowdown gripped investors pessimistic about dour economic data from China. The benchmark S&P/ASX200 index was down 59.6 points, or 1.05 per cent, at 5602.0 at 1615 AEDT yesterday, while the broader All Ordinaries lost 0.99 per cent. The slowing of retail sales and industrial production in China for November compounded investor sentiment still nervous about the wider impact of the unresolved trade dispute, CommSec market analyst James Tao said.