Australian market set to open lower

THE Australian market looks set to open lower following falls in overseas stocks on the back of some disappointing Chinese international trade data.

In Australia, the market on Tuesday suffered falls after the Chinese trade figures.

THE Australian market looks set to open lower following falls in overseas stocks on the back of some disappointing Chinese international trade data.

At 0645 AEDT on Wednesday, the December share price index futures contract was down 38 points at 5,153.

European and US stock markets were lower after it was reported that China’s imports fell 20.4 per cent in the 12 months to September as the nation’s property sector stuttered, another sign of weakness in the worlds second largest national economy.

Locally on Wednesday, the Westpac/Melbourne Institute Survey of Consumer Sentiment is released.

And in equities news, Qantas chief executive Alan Joyce addresses the National Press Club, National Australia Bank chief executive Andrew Thorburn speaks at an Australian Israel Chamber of Commerce lunch in Sydney and Clean Seas Tuna holds its annual general meeting.

In Australia, the market on Tuesday suffered falls after the Chinese trade figures.

The benchmark S&P/ASX200 index was down 30 points, or 0.57 per cent, at 5,202.9 points.

The broader All Ordinaries index was down 32.8 points, or 0.62 per cent, at 5,234.6 points.