Aust stocks set to open stronger

Local market to follow Wall St higher as global bourses digest shutdown.

The Australian stock market looks set to open higher following gains on international markets amid hopes the partial US government shutdown will not seriously harm the economy and of a settlement to Italy's political crisis.

At 0648 AEST, the September share price index futures contract was up 24 points at 5,233.

In economic news on Wednesday, the Australian Bureau of Statistics is due to release international trade in goods and services, and building approvals figures, both for August.

No major equities news is expected.

In Australia, the market on Tuesday fell in choppy trading, after the United States government partially closed down because Congress failed to agree upon a new budget.

The benchmark S&P/ASX200 index dropped 12.1 points, or 0.23%, to 5,206.8 points.

The broader All Ordinaries index lost 11.4 points, or 0.22%, at 5,206.3 points.

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