Aust stocks open lower

Local market follows Wall St lower as ongoing US shutdown weighs on investors.

The Australian stock market opened lower, as investors shied away from risk amid the ongoing US debt ceiling stoush.

At the 1015 AEDT official market open, the benchmark ASX 200 index had fallen 0.42% to 5127.6 points, while the broader All Ordinaries index lost 0.43% to 5126 points.

The losses followed falls on international markets as the United States budget stand-off entered its eighth day with no end in sight, stoking worries of a catastrophic default.

At 0645 AEDT, the December share price index futures contract was down 31 points at 5,111.

In economic news on Wednesday, the Australian Bureau of Statistics releases international merchandise imports data for September while the Westpac/Melbourne Institute Survey of Consumer Sentiment is also due out.

In equities news, WorleyParsons is due to hold its annual general meeting and Jetstar takes delivery of its first Dreamliner plane in Melbourne.

In Australia, the market on Tuesday closed lower as the political impasse in the United States over the budget and debt ceiling continues to spook investors.

The benchmark S&P/ASX200 index ended down 11.7 points, or 0.23%, to 5,149.4 points.

The broader All Ordinaries index lost 12.5 points, or 0.24%, to 5,148.1 points

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