Australian share selloff deepens as China seeks to bolster confidence

Banks and energy companies take the hit as investors face global headwinds from slowing Chinese economy and depressed commodity prices

Australian shares have closed down sharply as uncertainty about the direction of the Chinese economy and markets saw volatile trading across Asia Pacific.

The benchmark S&P/ASX200 index finished down 1.6% or 86 points at 5,184 points at the close of trade on Tuesday while shares on the Shanghai Composite index (SSE) yo-yoed wildly despite renewed intervention by the Chinese authorities.

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