Australian market set to open lower

The Australian market looks set to open lower after Wall Street fell as the Bank of Japan's shocking call to cap monetary stimulus continues to rattle investors while a late day decline in Apple shares on remarks by billionaire investor Carl Icahn added to selling pressure.

At 0645 AEST on Friday, the share price index was down nine points at 5,192.

In local economic news on Friday, the Reserve Bank of Australia is due to release financial aggregates data for March, while RBA Assistant Governor (Financial Markets) Guy Debelle speaks at the ACI World Congress Conference.

In equities news, Motorcycle Holdings and Reliance Worldwide are slated to list on the on ASX, while Hutchison Telecoms hold its annual general meeting.

In Australia, the market on Thursday closed higher as a lift in iron ore futures in China boosted mining stocks, but market gains were curbed by the Bank of Japan's decision not to expand its economic stimulus policies.

The benchmark S&P/ASX200 index rose 37.7 points, or 0.73 per cent, at 5,225.4 points.

The broader All Ordinaries index gained 38.5 points, or 0.73 per cent, at 5,289.4 points.

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