The Australian share market fell for the sixth straight session today.

Here’s a quick recap:

  • S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) down 0.4% to 4990 points
  • ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) down 0.4% to 5049 points
  • AUD/USD at US 70.59 cents
  • Iron Ore at US$42.65 a tonne, according to the Metal Bulletin
  • Gold at US$1,102.66 an ounce
  • Brent oil at US$34.40 a barrel

The ASX fell sharply immediately after the opening bell, but recovered in the early afternoon after the People’s Bank of China refrained from further cuts to the yuan. Unfortunately, shares were unable to hold onto their gains and the market is yet to experience a daily gain in 2016.

The major banks did most of the damage today, led by Commonwealth Bank of Australia (ASX: CBA) and Australia and New Zealand Banking Group (ASX: ANZ) which fell 1.2% each.

Telstra Corporation Ltd (ASX: TLS) also fell 0.4%, but BHP Billiton Limited (ASX: BHP) and Rio Tinto Limited (ASX: BHP) provided some much needed support. Rio Tinto’s shares lifted 3%.

Woodside Petroleum Limited (ASX: WPL) and Santos Ltd (ASX: STO) were two of the other major shares to buck the market’s trend, lifting 4.6% and 4%. Neither Bega Cheese Ltd (ASX: BGA) nor Slater & Gordon Limited (ASX: SGH) were that lucky, falling 6.1% and 4.8%.

Here are Friday’s top stories:

  1. Why China’s crashing share market doesn’t matter
  2. The BHP share price falls below $16. How low can they go?
  3. With the ASX crashing below 5000, this top fund manager is eyeing a bargain
  4. Is the worst over for Slater & Gordon Limited shares?
  5. Could the Santos share price fall below $3?
  6. 2 shares to buy and 2 to avoid in the next boom sector
  7. Dick Smith: A timeless lesson for investors

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Motley Fool contributor Ryan Newman has no position in any stocks mentioned. Unless otherwise noted, the author does not have a position in any stocks mentioned by the author in the comments below. You can follow Ryan on Twitter @ASXvalueinvest.

The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.