Aust stocks open lower

Local market follows Wall St lower as shutdown fears weigh on global bourses.

The Australian stock market opened slightly lower following falls on Wall Street overnight as the US budget stalemate entered its second week with the government partially shut down.

At the 1015 AEDT official market open, the benchmark S&P/ASX200 index lowered 0.32 per cent to 5,144.7 points, while the broader All Ordinaries index edged down 0.32 per cent to 5,143.9 points.

In economic news on Tuesday, the Australian Bureau of Statistics (ABS) releases figures for August overseas arrivals and departures as well as internet activity data for June quarter 2013.

The National Australia Bank's monthly business survey for September is due out.

ASX chief executive Elmer Funke Kupper is scheduled to speak at a business function in Melbourne on the topic of Competitive Australia, but, otherwise, no major equities news is expected.

In Australia, the market on Monday closed almost one per cent lower in thin trade, driven down by financial stocks amid uncertainty over the US debt situation.

The the benchmark S&P/ASX200 index was 46.9 points, or 0.90%, lower at 5,161.1.

The broader All Ordinaries index was down 45.3 points, or 0.87%, at 5,160.6

InvestSMART FORUM: Come and meet the team

We're loading up the van and going on tour from April to June, with events on the NSW central & north coast, the QLD mid-north coast and in Perth, Adelaide, Melbourne, Sydney and Canberra. Come and meet the team and take home simple strategies that you can use to build an investment portfolio to weather any storm. Book your spot here.

Want access to our latest research and new buy ideas?

Start a free 15 day trial and gain access to our research, recommendations and market-beating model portfolios.

Sign up for free

Related Articles