SYDNEY, AAP – Australia’s share market has closed lower, and most sectors dropped, as most Asian markets followed US markets downwards.

The S&P/ASX200 benchmark index closed lower by 32.1 points, or 0.46 per cent, to 6885.2 on Wednesday.

The All Ordinaries closed lower by 30.5 points, or 0.42 per cent, at 7158.8.

The declines follow those of the S&P 500 and Nasdaq, while Chinese markets were closed for the Lunar New Year holiday.

The Aussie dollar was buying 77.53 US cents at 1621 AEDT, lower from 77.95 US cents at Tuesday’s close.