Australian market set to open lower

THE Australian market looks set to open lower after Wall Street ended a topsy-turvy session higher, amid worries about Greece and China.

THE Australian market looks set to open lower after Wall Street ended a topsy-turvy session higher, amid worries about Greece and China.

At 0645 AEST on Wednesday, the September share price index futures contract was down 13 points at 5,510.

In local economic news on Wednesday, Reserve Bank of Australia deputy head of Payments Policy Mark Manning is slated to participate in a panel discussion at the Global Investor/ISF Australia Securities Finance Masterclass Conference in Sydney. Meanwhile, ASIC reports on financial benchmarks.

In equities news, Queensland hydro company Genex Power debuts on the ASX.

In Australia, the market on Tuesday enjoyed its best gains in nearly five months as investors wait on the next developments in the Greek debt crisis.

The benchmark S&P/ASX200 index rose 106.4 points, or 1.94 per cent, to 5,581.4 points.

The broader All Ordinaries index gained 100.7 points, or 1.84 per cent, to 5,564 points.