All quiet on the local front

IT was an uninspiring day of trading on the Australian Securities Exchange following bearish leads from Wall Street on concerns over moves by China to tighten bank lending.

The S&P-ASX 200 index closed the day 16.6 points lower at 4545.5 points after earlier dipping to an intraday low of 4537.9 points, while the All Ordinaries closed at 4570.4 points, down 18.