Aust stocks open 1% stronger

The Australian stock market opened rallied more than 1% in early trade, following gains on Wall Street helped by data showing more strength and confidence in the US economy.

At the 1015 AEST official market open, the benchmark S&P/ASX200 index was 1.26% higher at 4,714.8 points, while the broader All Ordinaries index was 1.22%, to 4,689.9 points.

No major economic or equities news is expected on Wednesday.

Vodafone Hutchison Australia chief executive Bill Morrow, iiNet CEO Michael Malone, and Macquarie Telecom head David Tudehope are scheduled to speak at telecommunications industry function hosted by Competitive Carriers' Coalition in Sydney.

In Australia, the market on Tuesday finished lower, dragged down as nervous investors take their leads from falls across major Asian markets.

Despite small gains in early trade, Australian shares closed about 0.3% lower as the Shanghai Composite, Japan's Nikkei and Hong Kong's Hang Seng indices moved into the red.

The benchmark S&P/ASX200 index was down 13.1 points, or 0.28%, at 4,656.0 points, while the broader All Ordinaries index was down 17.6 points, or 0.38%, to 4,633.5 points.