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Australian stocks set to open lower as Wall Street fall sharply

Australian stocks set to open lower as Wall Street fall sharply

SYDNEY: The Australian stocks looks set to open lower after Wall Street fell sharply as a selloff in semiconductors, fed by a downgrade on suppliers, spread to the broader market.

At 6.45am (AEDT), the June share price index futures contract was down 41 points at 5,929.

No major local economic news is expected on Thursday.

However, the Australian Domestic Gas Outlook 2015 conference continues for its fourth day in Sydney.

In equities news, Brickworks is expected to post half year results, while Computershare has an investor and analyst briefing.

Meanwhile, Rio Tinto chief executive Sam Walsh is slated to address the MCA Biennial Tax Conference in Melbourne.

The local market ended flat on Wednesday.

The benchmark S&P/ASX200 index was 4.2 points, or 0.07 per cent, higher at 5,973.3.

The broader All Ordinaries index was up 2.6 points, or 0.04 per cent, at 5,937.1, according to preliminary figures.