Resources-focused stocks again led the local share market lower. That's after commodity prices fell on worries about the strength of the global economy. By the close of the trade, the All Ordinaries index has shed a third of a percent, as had the ASX 200 index. Rio Tinto shed almost two percent. Smaller iron ore miners Atlas and Mt Gibson were down well over four. And larger rival Fortescue shed two. 

 

 

 

The Australian dollar is heading slightly higher against the greenback. It fell overnight on global growth worries.

 

 

 

The Reserve Bank says subdued credit growth and relatively high funding costs could dampen profits at the country's lenders. It's worried this might tempt them to take on risky loans. In its six-monthly assessment of Australia's financial stability, the RBA says competitive pressures have not yet spurred inappropriate risk taking, but it's concerned about lower lending standards last seen in the lead-up to the financial crisis.