Australian market set to open lower

The Australian share market looks set to open lower despite a modest climb on Wall Street.

The Australian market looks set to open lower after Wall Street closed slightly higher after US data renewed expectation the Federal Reserve may not to lift its key interest rate in the near future.

At 0645 AEST on Wednesday the share price index was down 10 points at 5,5401.

Locally, in economic news on Wednesday, the Bureau of Statistics releases the national accounts, including gross domestic product data, for the June quarter and international trade in goods and services for July.

The Australian Industry Group/Housing Industry Association is expected to release its performance of construction index for August.

In equities news, AGL chief executive Andy Vesey is slated to speak at a CEDA event in Brisbane.

In Australia, the market on Tuesday fell, hurt by falls across financial, telecom and resource companies as the Reserve Bank of Australia left interest rates unchanged.

The benchmark S&P/ASX200 index was down 16 points, or 0.29 per cent, at 5,413.6 points.

The broader All Ordinaries index was down 14 points, or 0.25 per cent, at 5,510.4 points.


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Source: AAP



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