STOCKS - AUSTRALIAN SHARES BEGIN SOFTER - DEC 1, 2004.

SYDNEY, Dec 1 Asia Pulse - The Australian stock market opened lower today on the back of a weaker US market.

On the local bourse, major banks and resource stocks slipped while the telco's and market heavyweight News Corp climbed slightly.

At 1016 AEDT, the benchmark S&P/ASX 200 was eight points lower at 3923.3 while the all ordinaries dipped 6.5 points to 3936.3.

On the Sydney Futures Exchange, the December SPI 200 futures contract was six points higher at 3929 - a 5.7 point premium to the underlying index - on a volume of 4,296.

Macquarie Equities adviser David Halliday said the market was down but not looking too bad considering its recent good form.

"This morning's negative start is in line with leads that we had from ...