Australian market set to open lower

THE Australian market looks set to open lower following losses on Wall Street amid growing fears about the slowing Chinese economy.

THE Australian market looks set to open lower following losses on Wall Street.

At 0641 AEST on Thursday, the September share price index futures contract was down 53 points at 5,300.

US stocks fell one per cent, with petroleum-linked equities hit especially hard amid growing fears about the slowing Chinese economy.

Locally on Thursday, the Commonwealth Bank releases its business sales indicator for July and Reserve Bank deputy dead of payments policy Mark Manning will appear at the Risk Australia 2015 Conference in Sydney.

In equities news, more companies will release their earnings reports, with AMP, Qantas and Coles owner Wesfarmers being the highlights.

Other companies releasing earnings include: APN News & Media, Brambles, Origin Energy, Super Retail — the owner of Supercheap Auto, Rebel and Amart Sports, Tatts Group, Australia’s largest Salmon producer Tassal, and online travel company Webjet full year earnings.

In Australia, the market on Wednesday closed higher, helped by a Woodside-led rally in energy stocks.

The benchmark S&P/ASX200 index was up 77.1 points, or 1.45 per cent, at 5,380.2 points.

The broader All Ordinaries index was up 70.4 points, or 1.33 per cent, at 5,379.8 points.