Australian stocks are poised to open lower despite a rebound on US markets as health authorities around the world took steps to monitor and contain a deadly virus outbreak in China.
The SPI200 futures contract was down 15 points, or 0.21 per cent, at 7,061 at 0800 AEDT on Thursday.
It comes after a record-breaking run for the Australian share market, which smashed through the 7,100 mark on Wednesday on broad-based gains.
The benchmark S&P/ASX200 index finished up 66.4 points, or 0.94 per cent, at 7,132.7 while the broader All Ordinaries index closed up 68.5 points, or 0.95 per cent, at 7,249.
IG market analyst Kyle Rodd says that despite a strong Wall Street lead overnight, local futures are pointing to fall for the ASX200 when trade opens.
“This comes a day after the index tore its own record highs, rallying just shy of 1 per cent, during what was a robust day’s trade,” he said.
Consumer staples stocks were the biggest performers after it was reported German retailer Kaufland would be abandoning its entry into the Australian market.
Traders will be looking to see Thursday’s major Australian employment data print, he said.
The Australian dollar was buying 68.43 cents at 0800 AEDT on Thursday.