SYDNEY, Sept. 6 (Xinhua) -- The Australian Share market has slumped at open on Thursday with significant losses across the board, with the exception of telcos.
At 10:30 (AEST), the benchmark S&P/ASX 200 index was down 40.30 points or 0.65 percent at 6190.10, while the broader All Ordinaries index was down 40.90 points or 0.65 percent at 6,298.30.
The slump for the Aussie index follows a tumble for global stocks Wednesday, with Asian markets particularly hard hit.
"Investor sentiment may be fragile as headlines of emerging markets issues and concerns about further tariff escalation prevail," CMC Markets chief market economist Michael McCarthy said.
However some Australian material companies, benefiting from a weaker U.S. dollar, bucked the trend to post solid gains.
"A weakened U.S. dollar provided the commodity markets with a mixed lift," McCarthy said.
"Oil prices inched lower but gold prices bounced and key industrial metals largely halted their downward trajectory."
In the financial space, Australia's big banks slumped with the Commonwealth Bank down (0.36 percent), Westpac Bank down (0.50 percent), National Australia Bank down (0.64 percent) and ANZ down (0.63 percent).
Mining stocks were mixed with BHP down (2.05 percent), Rio Tinto up (0.36 percent), Fortescue Metals up (0.97 percent) and goldminer Newcrest down (1.00 percent).
The country's oil and gas producers sank with Woodside Petroleum down (1.16 percent), Oil Search down (1.20 percent) and Santos down (0.52 percent).
Australia's largest supermarket chains dropped with Wesfarmers down (0.02 percent) and Woolworths down (0.28 percent).
Meanwhile telecommunications giant Telstra surged (3.31 percent), the national carrier Qantas lost altitude (1.12 percent) and biomedical firm CSL dropped (1.09 percent).
