Aust stocks open lower

Local market slips in early trade following a mostly weaker close on Wall St.

The Australian stock market opened lower following Wall Street's downward lead after a top Federal Reserve official warned the bank's stimulus measures couldn't continue forever.

At the 1015 AEDT official market open, the benchmark S&P/ASX200 index fell 0.35% to 5,374.3 points, while the broader All Ordinaries index declined 0.33% to 5,369.2 points.

In economic news on Wednesday, the Australian Bureau of Statistics releases September wage price index and October new motor vehicle sales data.

The Westpac/Melbourne Institute Survey of Consumer Sentiment is due out.

In Australia, the market on Tuesday edged higher as gains by mining and chemical companies offset more falls by the major banks.

The benchmark S&P/ASX200 index gained six points, or 0.11%, to 5,393.1.

The broader All Ordinaries index added six points, or 0.11%, to 5,386.8.