Stocks fall 1.9 per cent on China growth concerns

The Australian share market has fallen heavily on the first day of the financial year, with investors worried about the strength of China's economy.

The Australian share market has fallen heavily on the first day of the financial year, with investors worried about the strength of China's economy.

At the close on Monday, the benchmark S&P/ASX200 index was down 92.3 points, or 1.92 per cent, at 4,710.3, while the broader All Ordinaries index was down 85.7 points, or 1.79 per cent, at 4,689.7.

On the ASX 24, the September share price index futures contract was 87 points lower at 4,682, with 33,837 contracts traded.