Australia shares set to open lower; NZ flat

Sept 1 (Reuters) – Australian shares are likely to open lower on Thursday, tracking selling on Wall Street overnight as fears about aggressive rate hikes from the Federal Reserve persist, while weak underlying prices are expected to weigh on domestic commodity stocks.

The local share price index futures YAPcm1 fell 2.1%, a 147.8-point discount to the underlying S&P/ASX 200 index .AXJO close. The benchmark settled 0.2% lower on Wednesday.

New Zealand’s benchmark S&P/NZX 50 index .NZ50 was little changed at 11,599.59 points in early trading.

(Reporting by Riya Sharma in Bengaluru
Editing by Matthew Lewis)

((Riya.Sharma@thomsonreuters.com;))

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