The Aussie market has started the new trading week on a volatile albeit positive note, with the XJO presently 15 points (+0.4%) stronger, at 4315.
Most sectors are stronger, with IT, consumer staples, and telcos the best performers, whilst only healthcare plays are in the red.
So far the day has been littered by financial data, with poor local retail sales numbers and a downgrade in the final reading of Chinese manufacturing growth the two major items.
Data released from the Australian Bureau of Statistics showed that retail spending declined 0.8%, to a seasonally adjusted $21.42 billion in the month of July.
The results dramatically missed analysts’ forecasts of a 0.2% rise.
Elsewhere, HSBC released its final reading of China’s manufacturing activity, which showed a fall to 47.6 in August, down from 49.3 in July and also lower than the flash reading of 47.8.
Any reading below 50 indicates a contraction in overall activity.
The result actually sees the index fall to its lowest level since March 2009.
Around the region, Asian markets are mixed; the Hang Seng is up 0.4% whilst the Nikkei is down 0.4%.