Market Update: The S&P/ASX 200 is down 0.8%, at 5,278 points

Market Update: The S&P/ASX 200 is down 0.8%, at 5,278 points. China's better-than-expected November PMI of 51.4 failed to lift the market. All major banks fell between 0.2% and 1.3%. Resources also down with BHP dropping 1.4% and Rio sliding 0.6%. The two big names last week, Forge Group and GrainCorp, were under selling pressure again with Forge Group tumbling 16.7% and GrainCorp losing 2.5%. The AUD was performing much better to be trading at US$0.9150. The SPI was down 0.8% at 5,284 points on the Sydney Futures Exchange.