Australian market set to open lower

THE Australian market looks set to open lower following falls in US and European stocks as investors continue to fret over China.

In Australia, the market on Tuesday closed lower.

THE Australian market looks set to open lower following falls in US and European stocks as investors continue to fret over the broader global impact of China’s economic slowdown.

At 0645 AEDT on Wednesday, the December share price index futures contract was down seven points at 5,206.

Locally, in economic news on Wednesday, the Westpac-Melbourne Institute Leading Indexes of Economic Activity is due out.

In equities news, BHP Billiton is expected to release its first quarter production report while Crown Resorts, Origin Energy, Medibank Private, IAG, Amcor, Super Retail Group and Godfreys hold annual general meetings.

Meanwhile, Vodafone Hutchison Australia chief executive Iaki Berroeta is slated to speak at an American Chamber of Commerce in Australia lunch in Sydney and Citi’s 7th Annual Australian and New Zealand Investment two-day conference starts, also in Sydney.

In Australia, the market on Tuesday closed lower, pulled down by the big banks, miners and energy producers The benchmark S&P/ASX200 index was down 34.1 points, or 0.65 per cent, at 5,235.6 points. The broader All Ordinaries index was down 33 points, or 0.62 per cent, at 5,271.6 points.