Aust stocks set to open lower

Market tipped for weak start as Wall St falls as reality of shutdown sets in.

The Australian stock market looks set to open lower after Wall Street suffered hefty losses as the US partial government shutdown continued and worries climbed that the nation may default.

At 0711 AEST on Friday, the December share price index futures contract was down 30 points at 5,200.

No major economic news or equities news is expected on Friday.

In Australia, the market on Thursday rose, pushed up by strength in resources and banking stocks despite the the continuing US Congressional stand-off over budget negotiations.

The benchmark S&P/ASX200 index added 19.3 points, or 0.37%, to 5,234.9.

The broader All Ordinaries index gained 17.1 points, or 0.33%, to 5,232.

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