The local bourse has erased its gains for the month and recorded its seventh losing day out of the last eight sessions as sentiment turns increasingly bearish.
The benchmark S&P/ASX200 index on Thursday finished down 37.4 points, or 0.49 per cent, to 7,628.2, while the broader All Ordinaries dropped 39.8 points, or 0.5 per cent, to 7,895.9.
The Australian dollar was buying 65.97 US cents, from 66.58 US cents at Wednesday's ASX close.