Aust stocks open lower
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The Australian stock market opened 0.5% lower following the lead of international markets on continued unease over emerging markets.
At the 1015 AEDT official market open, the benchmark S&P/ASX200 index slipped 0.5% to 5,163.8 points, while the broader All Ordinaries index declined 0.49% to 5,179.6 points.
IG market strategist Stan Shamu said the fact that a cut in the cash rate was deemed unlikely ahead of Tuesday's Reserve Bank of Australia board meeting was viewed by investors as a negative for the Australian economy.
"The reason being, we have already seen a pretty sharp depreciation in the Australian dollar, which has translated to an inflation risk for the Australian market," he said.
In economic news on Monday, the Reserve Bank of Australia (RBA) releases the index of commodity prices for January.
The Australian Bureau of Statistics releases building approvals data for December, the ANZ job advertisements series for January is due out as is the TD Securities-Melbourne Institute inflation gauge, both for January.
In equities news, JB Hi-Fi, Country Road and Argo Investments are expected to release first half results.
In Australia, the market on Friday recovered early losses to edge slightly into positive territory as investors searched for stronger direction.
The benchmark S&P/ASX200 index gained 1.9 points, or 0.04%, to 5,190 points.
The broader All Ordinaries index added 5.7 points, or 0.11%, at 5,205.1 points.
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