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Article: AUSTRALIAN BOURSE NOSEDIVES TO BIGGEST ONE-DAY FALL IN 7 YEARS.
- Article from:
- AsiaPulse News
- Article date:
- August 16, 2007
CopyrightCOPYRIGHT 2007 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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SYDNEY, Aug 16 Asia Pulse - The Australian share market has lost more than five per cent, its biggest one-day fall in more than seven years.
The benchmark S&P/ASX200 has lost 5.21 per cent or 301.4 points to 5486.6.
The All Ordinares index has lost 5.29 per cent to 306.7 points to 5494.8.
It is the biggest one-day fall in the market since April 2000.
Brokers and analysts said the sharp fall was a shock and that the ensuing pain for the local investors was not over.
ABN Amro Morgan private client advisor Chris Macdonald said he was advising clients to keep faith with the market.
"I'm suggesting they hold the line," Mr ...