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The ASX200 has been down 0.9% at 8,280 points in afternoon trade.
Commodity stocks have been a drag on the market, as investors await a slew of fresh economic data from China. This will include Q3 GDP with consensus expectations of a slowdown to 4.5% GDP.
Back home, almost all sectors are in the red and Utilities is worst performer, down 2.4%, followed by Discretionary, down 1.75% and Materials, Real Estate and IT, all down 1.6%.
Company News
Harvey Norman (ASX:HVN) has been down 1.3% on news the Federal Court found the company did sell junk warranties to customers. A hearing to determine any penalty is likely to be next year.
Harvey Norman has been $4.85.
Beach Energy (ASX:BPT) has been up 0.6% on its quarterly update. The company reported a 10% quarter on quarter increase in production to 5.2 MMboe, which was ahead of consensus estimates.
Beach Energy has been swapping hands at $1.23.
Fortescue (ASX:FMG) has slid down 2.25% on the back of a decline in iron ore prices. Iron Ore has been trading at US$100.25 in Singapore.
Fortescue has been $19.50.
