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Aust stocks close lower

The Australian share market has been dragged lower by heavy selloffs among the miners and banks.

At 1615 AEST on Tuesday, the S&P ASX/200 index was down 17.8 points, or 0.32 per cent, at 5,545 points, and the All Ordinaries was down 18.4 points, or 0.33 per cent, at 5,600.7 points.

The December share price index futures contract was down 28 points at 5,547 points, with 149,043 contracts traded.