Aust stocks open weaker

Local market begins lower as taper fears weigh on Wall Street.

The Australian stock market opened lower  following falls on Wall Street amid concerns that the US Federal Reserve will scale back its bond-buying program more quickly than previously thought.

At the official 1015 AEDT market open, the benchmark S&P/ASX200 index lost 0.39% to 5,235.7 points, while the broader All Ordinaries index fell 0.36% to 5,230.9.

Materials were mixed, with the major miners in the black.

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