Australian market set to open lower

THE Australian market looks set to open lower after Wall Street fell with investors worried over the potential impact of China’s slowdown.

NEW YORK, NY - AUGUST 31: A trader works on the floor of the New York Stock Exchange during the afternoon of August 31, 2015 in New York City. After a volatile day of trading the Dow Jones Industrial Average closed more than 100 points down. Andrew Burton/Getty Images/AFP == FOR NEWSPAPERS, INTERNET, TELCOS & TELEVISION USE ONLY ==

THE Australian market looks set to open lower after Wall Street fell with nervous investors selling down stocks amid continued worries over the potential impact of China’s slowdown.

At 0645 AEST on Tuesday, the September share price index futures contract was down 21 points at 5,146.

Locally, in economic news on Tuesday, the Reserve Bank of Australia holds its monthly board meeting and makes its interest rate decision. It also releases its index of commodity prices for August.

Meanwhile, the Australian Bureau of Statistics releases balance of payments and international investment position plus government finance statistics, both for the June quarter, as well as building approvals for July.

The ANZ-Roy Morgan weekly consumer confidence survey is also due out, as are the Australian Industry Group performance of manufacturing (PMI) index for August, the RP Data Core Logic Home Value Index for August and the Dun and Bradstreet business expectations survey.

In equities news, Collins Foods holds its annual general meeting in Brisbane.

In Australia, the market on Monday closed one per cent lower as investors fretted over the possibility the US Federal Reserve could soon raise interest rates.

The benchmark S&P/ASX200 index was down 56.6 points, or 1.08 per cent, at 5,207 points.

The broader All Ordinaries index lost 52.6 points, or one per cent, to 5,222.1 points.