After being down more than 80 points at one stage, the Aussie market has bounced back throughout the morning to currently be trading just 25 points lower.

Despite the bounce the IT, materials and energy stoks are still reeling, whilst the financial, healthcare and utilities sectors are holding up well.

In company news, Lynas Corp today reported a 33% jump in full-year losses, to $57.29 million from $42.04 million.

The result has seen LYC trade as much as 5% lower so far today.

Around the region, Asian markets are all trading lower; the Hang Seng is down 1.5% whilst the Nikkei is down 2.1%.