Debt, iron ore and tapering combine to push share market down – weekly review

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WEEKLY MARKET REPORT A heady combination of Chinese property debt, iron ore prices and US Federal Reserve plans to taper bond purchases conspired to leave a dent in the Australian share market. In the end teetering Chinese property group Evergrande seems to have survived for now and the US Fed plans to taper were reasonably well received but the yo-yo-ing iron ore price pushed down the miners and saw the ASX 200 lose 0.4% to 7342.6 points on Friday. That led to the market closing down 0.65% for the week, although some of the really bearish sentiment from early in the week had reversed. Stability fears over Evergrande ease Initially there were real fears that the inability of giant and heavily indebted Chinese property group Evergrande to pay its loans as they fell due could lead to a much wider financial contagion within China and also spreading to the rest of the world. However, after Evergrande avoided defaulting on
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