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Australian shares are expected to open lower after a negative lead from Wall Street.

The SPI200 futures contract was down 30 points, or 0.47 per cent, at 6,320.0 at 0700 AEST, suggesting an early drop for the benchmark S&P/ASX200 on Thursday.

On Wall Street overnight, the Dow Jones Industrial Average was down 0.61 per cent, the S&P 500 was down 0.75 per cent and the tech-heavy Nasdaq Composite was down 0.57 per cent.

The Aussie dollar is buying 70.16 US cents from 70.49 US cents on Wednesday.