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SYDNEY, April 1 Asia Pulse - The Australian sharemarket was lower at noon as investors were unwilling to buy stocks because of concerns about losses related to credit markets and margin loans.
At 1200 AEDT, the benchmark S&P/ASX200 index was down 22.4 points, or 0.42 per cent, at 5333.3, while the broader All Ordinaries fell 22.9 points to 5387.8.
On the Sydney Futures Exchange, the June share price index contract declined nine points to 5387 on 12,494 contracts.
Bell Potter senior advisor Stuart Smith said there was little interest in the market, with an unusually low trading volume.
"Investors are waiting for the next something, be it a Tricom or Opes, to come out of the woodwork. It's very much a wait and see game," Mr Smith said.
Tricom failed to settle some trades on time in January while Opes Prime collapsed last month after trading "irregularities" were uncovered.
Banking shares declined, with National Australia Bank falling 73 cents, or 2.42 per cent, to $29.42, Commonwealth Bank shedding eleven cents to $41.70, ANZ losing 22 cents, or 0.98 per cent, to $22.33 and Westpac dropping 22 cents to .53.
Source: HighBeam Research, STOCKS - AUSTRALIAN SHARES LOWER TO NOON - APRIL 1, 2008.