Most sectors are weaker, with materials and financials amongst the worst performers.
QBE is bucking the broader trend, currently 2.6% stronger, whilst Harvey Norman is also keeping its head above water and Leightons is holding strong towards the top of the 200 leaderboard, up more than 4% on a better profit outlook.
In economic news, employment prospects appear to be contracting with job ads falling for the first time in almost a year.
Job ads retreated 0.9% in December after a flat reading in the previous month. From a year earlier ads were down 2.6%, marking the first annual contraction since February 2010.
Around the region, Asian markets are all weaker; the Hang Seng is off 0.8%, whilst the Nikkei down 1.7%.