Despite the positive leads provided by the Street overnight, the Aussie market is slightly underwater heading into the afternoon session.

Most sectors are in negative territory, with healthcare and IT the hardest hit.

In company news, Billabong (BBG) is up more than 7% on the day following the release of figures showing a 6% increase in 1Q sales revenue.

Elsewhere, Resmed (RMD) has slumped as much as 13% after the company's 1Q sales came in below expectations.

Around the region, Asian markets are mixed; the Hang Seng is up 0.5% whilst the Nikkei is down 0.3%.

Click to Receive FREE Trading Recommendations for the next 7 Days!