Australian stocks open sharply lower

Australian shares start the day sharply lower, with Dreamworld owner Ardent Leisure down markedly a day after four people died on a theme park ride.

The Australian share market has opened sharply lower, with Ardent Leisure down almost eight per cent within the first 13 minutes of trade the day after four people died on a ride at its Dreamworld theme park.

At 1010 AEDT on Wednesday, the benchmark S&P/ASX200 index was down 38.3 points, or 0.70 per cent, at 5,404.5, while the broader All Ordinaries index was down 36.2 points, or 0.66 per cent, at 5,487.1.

The ASX 24 the share price futures index contract was down 44 points at 5,379, with 9,372 contracts traded.