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STOCKS - AUSTRALIAN SHARES OPEN WEAKER - MARCH 2, 2009.

AsiaPulse News

| March 02, 2009 | COPYRIGHT 2009 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

SYDNEY, March 2 Asia Pulse - The Australian stock market opened weaker on Monday led by the resources sector and after losses on Wall Street.

By 1015 AEDT on Monday, the benchmark S&P/ASX200 index was down 73.3 points, or 2.19 per cent, at 3,271.2, while the broader All Ordinaries index had shed 68.4 points, or 2.07 per cent, to 3,228.5.

On the Sydney Futures Exchange, the March share price index futures contract was down 61 points to 3,255 on a volume of 6,265 contracts.

In the resources sector, market giant BHP Billiton shed 81 cents to $28.02 while rival Rio Tinto was down $2.61 at .64.

In Sydney this morning, the new president of Chinese aluminium producer, Chinalco, will brief the media on his company's plans for its investment in Rio Tinto.

The banking sector was lower, too.

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Source: HighBeam Research, STOCKS - AUSTRALIAN SHARES OPEN WEAKER - MARCH 2, 2009.

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