ASX tipped to open lower this week

Australia’s share market is expected to open down before optimism returns to the market to usher in the New Year.

Australian share futures were pointing to a 22 point fall to 6,722 on open Monday morning. 

The ASX trading board.

The ASX trading board.Credit:AAP

“Even though it might open a little bit soft tomorrow, I suspect that through the week as a whole we will rally, helped along with New Year optimism and the lack of new issuance,” said AMP chief economist Shane Oliver, who is tipping the market might open between 10 points and 15 points lower, said.

The benchmark S&P/ASX200 index closed 27.5 points, or 0.4 per cent, higher at 6,821.7 points on Friday while the broader All Ordinaries was up 29.9 points, or 0.43 per cent, at 6,936.3 points.

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