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ASX sell-off on poor Chinese data

Jan 03, 2019 - Australian Financial Review

The Australian sharemarket opened 2019 with a sell-off as local shares tumbled on the back of disappointing manufacturing data from China.

The S&P/ASX 200 Index slid 88.6 points, or 1.6 per cent, to 5557.8 while the broader All Ordinaries declined 83.8 points, or 1.5 per cent, to 5625.6.

The Caixin China Manufacturing PMI contracted during December, a sign that China's economy is being hit by the US-China trade war. Global markets fell in response, with US futures falling and Asian s...