Economy 1 MIN READ

Australia shares set to fall at open, NZ dips

June 14, 2022By 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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This article originally appeared on reuters.com

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