Australian market set to open lower

AUSTRALIAN shares looks set to open sharply lower after international markets tumbled following China manufacturing data.

NEW YORK, NY - SEPTEMBER 01: Traders work on the floor of the New York Stock Exchange on September 1, 2015 in New York City. Despite positive gains yesterday, the Dow Jones industrial average resumed its fall on Tuesday over uncertainty in the Chinese economy and a looming decision over interest rate hikes. The Dow was down over 450 points at the close. Spencer Platt/Getty Images/AFP == FOR NEWSPAPERS, INTERNET, TELCOS & TELEVISION USE ONLY ==

AUSTRALIAN shares looks set to open sharply lower after international markets tumbled following China manufacturing data which gave further indications that the world’s second-largest economy is slowing.

At 0645 AEST on Wednesday, the September share price index futures contract was down 67 points at 4,991.

Locally, in economic news on Wednesday, the Australian Bureau of Statistics releases the national accounts figures, including gross domestic product, for the June quarter.

Meanwhile, the three-day Africa Down Under Conference starts. No equities news is expected on Wednesday.

In Australia, shares on Tuesday tumbled with an estimated $32 billion wiped from market after Chinese manufacturing data gave further indications of weakness in the world’s second-largest economy.

The benchmark S&P/ASX200 index was down 110.6 points, or 2.12 per cent, at 5,096.4.

The broader All Ordinaries index was down 105.1 points, or 2.01 per cent, at 5,117.