Aust stocks set to open lower

Local market set to follow Wall St's downward lead after Fed official warned on taper.

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

At 0645 AEDT, the December share price index futures contract was down 21 points at 5,390.

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

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