Aust stocks lower at lunch

Local market still in the red as upbeat US data stokes fears of early Fed taper.

The Australian stock market remained more than 0.5% lower at noon as better than expected United States jobless claims figures stoked fears of early Federal Reserve stimulus tapering.

At 1205 AEST the benchmark S&P/ASX200 index fell 0.8% to 5,111.2 points, while the broader All Ordinaries index dropped 0.77% to 5,097.2 points.

In economic news, Reserve Bank of Australia assistant governor (Financial Markets) Guy Debelle is scheduled to speak on The Impact of Payments System and Prudential Reforms on the RBA's Provision of Liquidity, at an Australian Financial Markets Association (AFMA) and RBA briefing.

The RBA's Payments System board meeting is also scheduled.

In Australia, the market yesterday edged lower due to mixed reactions to corporate earnings reports.

The benchmark S&P/ASX200 index dropped 5.0 points, or 0.1%, to 5,152.4.

The broader All Ordinaries index lost 4.3 points, or 0.08%, to 5,136.7.

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