Aust stocks open slightly higher

Local market edges upward in early trade, buoyed by sharp gains on EU bourses.

The Australian stock market lifted slightly at the open as European bourses posted sharp gains on upbeat Chinese and eurozone economic data, and receding investor concerns over a United States intervention in Syria.

At the 1015 AEST official market open, the benchmark S&P/ASX200 index lifted 0.2 7% to 5202.2 points, while the broader All Ordinaries index was 0.28% higher at 5,192.7 points.

Wall Street was closed for the Labor Day public holiday.

In economic news on Tuesday, the Reserve Bank of Australia holds its monthly board meeting and makes its interest rate decision.

The Australian Bureau of Statistics releases retail trade figures for July, the Balance of Payments and International Investment Position for the June quarter, and government finance statistics for the June quarter.

No major equities news is expected.

In Australia, the market on Monday closed one per cent higher due to stronger-than-expected Chinese manufacturing data.

The benchmark S&P/ASX200 index was up 53.3 points, or 1.04%, at 5,188.3.

The broader All Ordinaries index was up 52.7 points, or 1.03%, at 5,178.