Australian Market Report of May 17, 2010: Chinese Govt Approved Investment in Kagara's (ASX:KZL) Mungana Goldmines

  Sydney, Australia, May 17, 2010 - (ABN Newswire) - The Australian stock market opened sharply lower on Monday led by material sector. European bourses broadly tumbled on Friday as European governments' deep spending cuts increased worries over the region's economies. The negative sentiment also spreads through Wall Street and Asian Markets. The Australia's S & amp;P/ASX200 index Monday fell approximately 1.8 per cent in early trade.  

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