China’s Shanghai Composite Index was trading 1.1% lower at 2,229.70 in mid day trading as investors took a breather to reflect on what the rest of the year holds for the market.
Profit taking also came into play as leads from U.S. markets fell on profit taking.
The S&P/ASX 200 was down 20.7 points, or 0.42 per cent, at 5223.30.
Gold stocks were lower including Newcrest Mining.
One winner was OncoSil Medical (ASX:OSL) which not only defied the trend but actually rose 10.3% after announcing a $10 million placement.
The placement and issue will raise $10.3 million to fund the global registration study for its radiation therapy device for the treatment of pancreatic cancer.