Australian market set to open lower

The Australian market looks set to open lower following sell-offs on international markets after Chinese stocks fell more than eight per cent, sparking concern about global economic growth.

At 0645 AEST on Tuesday, the September share price index futures contract was down 46 points at 5,491.

In local economic news on Tuesday, the ANZ-Roy Morgan weekly consumer confidence survey is due out.

No major equities news is expected, however, Fairfax Media chief executive Greg Hywood is slated to speak at an AmCham lunch in Sydney while Westpac SA general manager Lester Wynne-Jones is scheduled to speak at an Australia-Israel Chamber of Commerce lunch in Adelaide.

In Australia, the market on Monday recovered from early jitters to end a run of three straight losses and close the day higher.

The benchmark S&P/ASX200 index was up 23.8 points, or 0.43 per cent, at 5589.9.

The broader All Ordinaries index was up 22.4 points, or 0.40 per cent, at 5579.2.


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