Aust stocks set to open weaker

Local market expected to begin lower following falls on Wall Street

The Australian stock market looks set to open 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 0645 AEDT, the December share price index futures contract was down 36 points at 5,218.

In economic news on Wednesday, The Australian Bureau of Statistics releases September quarter national accounts figures, including gross domestic product.

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