The Chinese's cutting lending move is set for the good. What then want to do is to cool down a bit so that a sustainable, healthy growth for their economy, which is extremely important for Australia.
There were a number of good company reports last night in the US. So, it is just the typical market panic.
If you have strong nerve, buy/accumulate on dips. IMO, KZL's spin-off of the gold asset will underpin its SP.