RTTNews - The Australian market ended in negative territory on Thursday on concerns that Chinese Government is considering curbs on over-capacity in industries. Positive economic data on business investment, however, limited the losses.

The benchmark S&P/ASX200 Index slipped 0.08% or 3.70 points to close at 4,451, while the All-Ordinaries Index ended at 4,458, representing a loss of 6.30 points, or 0.14%.

On the economic front, the Australian Bureau of Statistics revealed that new capital spending by private sector businesses unexpected rose 3.3% in the second quarter of 2009, contrary to economists' expectation of a 5% contraction.

In a separate report, the Conference Board revealed that its Leading Economic Index (LEI) improved by 0.9% during June. However, the Coincident Index, which measures current economic conditions, declined 0.1% for the month, the Board noted.

Light sweet crude oil price for October delivery ended at $71.15 a barrel in electronic trading, down $0.28 from its previous close $71.43 a barrel in New York on Wednesday.

James Hardie Industries, biggest seller of home sidings in the U.S, gained 2.52% following news that new home sales in the U.S jumped more than 9% during July.

GPT Group, a property trust, advanced 3.48% after the company reported a wider net loss for the first half of 2009, hurt by writedowns on property trusts. Among other property stocks, StockLand rose 2.43% and Commonwealth Property Fund surged up 6.10%.

Banks advanced following positive economic data on business investment. ANZ Bank gained 1.75%, Commonwealth Bank of Australia edged up 0.29%, National Australia Bank advanced 1.11% and Westpac Banking rose 1.48%.

Metals and mining stocks declined following drop in commodity prices in the international market. BHP Billiton declined 1.31%, Iluka Resources shed 2.41%, Oz Minerals, which reported a loss for the first-half, slumped 6.09% and Rio Tinto lost 3.02%. However, Fortescue Metals and Gindalbie Metals remained unchanged from previous close.

Mixed trading was witnessed among the energy stocks. While Origin Energy slipped 1.31%, Woodside Petroleum gained 1.20%, Santos added 0.65% and Oil Search edged up 0.33%.

In the U.S., stocks ended just above the unchanged line on Wednesday amid choppy trading despite largely positive economic data as traders preferred to move to the sidelines ahead of key economic data related to Q2 GDP and weekly jobless claims on Thursday. The Dow closed up by 4.23 points or 0.04% at 9,543, the Nasdaq gained 0.20 points to finish at 2024 and the S&P 500 rose by 0.12 points to 1,028.

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