Aust stocks open lower

Local market slides almost half a per cent as US shutdown weighs on Wall St.

The Australian stock market opened lower after Wall Street suffered hefty losses on fears that the United States may default as a result of the partial government shutdown.

At the 1015 AEST official market open, the benchmark S&P/ASX200 index fell 0.44% to 5,211.8, while the broader All Ordinaries index declined 0.45% to 5,208.7 points.

No major economic news or equities news is expected on Friday.

In Australia, the market on Thursday rose, pushed up by strength in resources and banking stocks despite the the continuing US Congressional stand-off over budget negotiations.

The benchmark S&P/ASX200 index added 19.3 points, or 0.37%, to 5,234.9.

The broader All Ordinaries index gained 17.1 points, or 0.33%, to 5,232.