MARKET TALK: S&P/ASX 200 Down 1.8%; Hits Fresh 6-Week Low

1st Jul 2010 03:10

0210 GMT [Dow Jones] Australia's S&P/ASX 200 down 1.8% at 4224.9, hits fresh 6-week low of 4214.7 after China PMI data failed to impress the market. Risk assets are down across the region, with Nikkei stock average down 1.5%, AUD/USD down 0.8% and S&P 500 futures down 0.7% since the NY close. Heavyweight financials and materials sectors doing most of the damage. In resources BHP (BHP.AU) down 2.3%, Rio Tinto (RIO.AU) down 3.2%, Fortescue (FMG.AU) down 4.4%. Major banks down 1.9%-2.1%. After falling 8.6% in the past eight days, S&P/ASX 200 looks due for a bounce. Focus now turns to Shanghai market opening at 0230 GMT. ([email protected]) Contact us in Singapore. 65 64154 140; [email protected] (END) Dow Jones Newswires June 30, 2010 22:10 ET (02:10 GMT)