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Australian share market opens lower

Xinhua, March 23, 2016 Adjust font size:

The Australian share market opened lower on Wednesday.

At 10:10 a.m. local time (AEDT), the benchmark S&P/ASX200 index was down 19.1 points, or 0.37 percent, at 5,147.5, while the broader All Ordinaries index was down 18.4 points, or 0.35 percent, at 5,212.4.

Markets overnight took their initial direction from the bombings in Brussels at the airport and the railway station, a catalyst for a mild risk-off market tone, National Australia Bank Director and Senior Economist David de Garis said in a note on Wednesday.

Commonwealth Bank of Australia Chief Economist Craig James said a quiet week ahead is expected in Australia.

"The week kicks off on Wednesday with ANZ and Roy Morgan issuing the weekly consumer sentiment reading," James said.

"The higher Australian dollar, relatively low petrol prices and a firmer share market are serving to underpin confidence levels."

At the open, ANZ fell 0.43 percent, the Commonwealth Bank of Australia lost 0.27 percent, the National Australia Bank lost 0.43 percent, and Westpac was down 0.68 percent.

Rio Tinto fell 0.36 percent, and Woodside Petroleum lost 0.33 percent. Endit