Australia market drops 0.7%

The Australian share market finished the session lower on Tuesday, 03 June 2014, as investors risk appetite smashed by worse than expected China's HSBC manufacturing PMI data and softer than forecasted domestic retail sales data. Almost all sectors dived into sea of red, with shares of retailers, consumer goods, industrials and mining companies leading losses. The benchmark S&P/ASX200 and the broader All Ordinaries each declined by 0.7% to 5479.70 and 5460.50, respectively.

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