Aust stocks open little changed

Local market flat in early trade following subdued session on Wall Street.

The Australian sharemarket opened  little changed following mixed economic data while investors keep watch on continued unrest in major oil-producer Iraq.

At the 10.15am (AEST) official market open, the benchmark S&P/ASX200 index lost 8.6 points, or 0.16%, to 5,444.7 points, while the broader All Ordinaries index retreated 7.3 points, or 0.13%, to 5,425.4 points.

Locally, in economic news on Tuesday, Australian Securities and Investments Commission chairman Greg Medcraft is slated to speak at an Australian Institute of Company Directors lunch in Sydney.

In equities news, Nexus Energy has a creditors meeting scheduled in Melbourne.

In Australia, the market on Monday posted solid gains as investors were buoyed by China's best manufacturing activity data in six months.

The HSBC's manufacturing activity index in June rose to its highest reading for 2014, at 50.8 -- its first time above the 50-mark this year -- which the bank said showed the world's second largest economy had turned the corner.

The benchmark S&P/ASX200 index was up 33.8 points, or 0.62%, to 5,453.3.

The broader All Ordinaries index rose 31.1 points, or 0.58%, to 5,432.7.

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