Australian Market Report of August 18: Sharp Falls in Overseas Markets

  Sydney, Australia, Aug 18, 2009 - (ABN Newswire) - US stocks plunged significantly overnight despite a better-than-expected US manufacturing survey data. Falls in Asia and Europe markets put heavy pressure on the US stocks. Shanghai stocks dropped 5.8% Monday.The Australian shares closed lower following the decline in Wall Street and weak metals prices. The benchmark S & amp;P/ASX 200 fell 72.6 points, or 1.63 per cent, at 4388.  

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