THE share market fell for a sixth straight trading day, closing near the low of the day after a late sell-off that coincided with a weaker market in China. At 4.15pm (AEST), the benchmark S&P/ASX200 index was down 38.8 points, or 0.88 per cent, at 4345.7 points, while the broader All Ordinaries index was down 39.1 points, or 0.89 per cent, at 4370.6. Both indices were up about 0.3 per cent at noon AEST. On the Sydney Futures Exchange, the September futures contract was 50 points lower at 4327 points, on volume of 25,109 contracts. Traders said volumes were low as investors remained cautious ahead of possible changes to the proposed resources super profits tax and the release of significant US economic data later in the week. "Apart from some end of financial year window dressing, there are not too many reasons for investors to buy at the moment,'' CMC Markets senior trader Grant Tierney said. Chinese shares were sharply lower after Agricultural Bank of China offered shares in Shanghai at a lower than expected price, stoking fears over sentiment, dealers said. The Shanghai Composite Index, which covers both A and B shares, was down as much as 3.5 per cent in early afternoon trade, reflecting weakening demand in the Chinese market. A dearth of local economic and company news was only adding to the caution among investors, IG Markets strategist Ben Potter said. "We're seeing a real sense of uncertainty about the market at the moment, a real lack of conviction,'' he said. "When we have that there's a natural tendency for the market to drift lower, which is what were seeing.'' After being higher at noon, the financial sector lost ground throughout the afternoon. NAB lost 13 cents to $23.40, Westpac dropped 26 cents to $21.25, Commonwealth fell by 57 cents to $49.38 and ANZ ended 42 cents lower at $21.87. Macquarie Group was down 87 cents at $38.08.

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