Australia shares set to fall at open, NZ dips

June 15 (Reuters) – Australian shares are set to fall at open on Wednesday, taking cues from sharp losses across global markets as investors await the outcome of the U.S. Federal Reserve meeting where a 75-basis-point rate hike is expected.

The local share price index futures YAPcm1 fell 0.6%, a 49-point discount to the underlying S&P/ASX 200 index .AXJO close. The benchmark slumped 3.6% on Tuesday, the biggest fall in over two years.

New Zealand’s benchmark S&P/NZX 50 index .NZ50 fell 0.2% in early trade.

(Reporting by Tejaswi Marthi in Bengaluru)

((Tejaswi.marthi@thomsonreuters.com))

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