Australian market set to open flat

The Australian market looks set to open flat following falls on Wall Street after weak Chinese manufacturing data and oil prices resume their slide.

At 0645 AEDT on Tuesday, the share price futures index was down three points at 4,999.

China data showed that the world's second-largest economy's manufacturing sector contracted in January at the fastest pace since 2012.

Oil prices fell about six per cent after the China data added to worries about demand and an OPEC source played down talk of an emergency meeting to stem the decline.

In local economic news on Tuesday, the Reserve Bank of Australia holds its monthly board meeting and announces its interest rate decision.

The ANZ-Roy Morgan weekly consumer confidence survey and the Dun and Bradstreet business expectations survey are both due out.

In equities news, Navitas is expected to post half year results.

In Australia, the market on Monday ended the trading session higher, buoyed by gains across the board.

The benchmark S&P/ASX200 index was up 38.1 points, or 0.8 per cent, at 5043.6 points.

The broader All Ordinaries index was up 37.7 points, or 0.8 per cent, at 5,094.3 points.

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