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Australian Markets Getting Dragged Down In Chinese Property Market Massacre

Joe WeisenthalMar 4, 2013, 08:21 IST

Chinese property stocks are getting massacred tonight, with stocks falling over 8 percent on a plan to impose new taxes on home-sellers.

Anyway, the fallout is being felt elsewhere.

The Aussie dollar is a big loser.

And the Australian equity market — which includes a lot of the commodity companies whose wares go into building Chinese infrastructure and buildings — are falling as well.

The stock market in Australia is down 1.1 percent.

SMH.com.au