The Australian market looks set to open higher after Wall Street gained following solid manufacturing data from China.
At 0645 AEDT on Wednesday, the June share price index futures contract was up 25 points at 5,408.
China said its official purchasing managers index of manufacturing activity came in at 50.3 for March, up slightly from February’s eight-month low of 50.2. A figure above 50 points to growth.
Locally, in economic news on Wednesday, the Australian Bureau of Statistics is due to release February building approvals data, as well as job vacancies for the same month.
In equities news, QBE Insurance Group has its annual general meeting slated for Sydney.
BHP Billiton president of coal Dean Dalla Valle is scheduled to give a speech at a Committee for Economic Development of Australia (CEDA) lunch.
In Australia, the market on Tuesday closed lower despite pulling back most of its early losses after official data showed a slight improvement in China’s manufacturing activity.
The benchmark S&P/ASX200 index was down 5.6 points, or 0.1 per cent, to 5,389.2 points.
The broader All Ordinaries index shed 8.1 points, or 0.15 per cent, to 5,394.9 points.
