Miners to weigh on Australian stocks; New Zealand flat

Sept 12 (Reuters) - Australian shares are expected to come under pressure from mining stocks on Wednesday, with heavyweights BHP Billiton Ltd and Rio Tinto Ltd to lose on lower metal prices. Chinese steel futures fell more than 4 percent and coke prices also tanked after sources suggested China may allow for more flexible production cuts, while base metal prices slid on trade concerns. The local share price index futures fell 14 points to 6162.0, a 17.7-point discount to the underlying S&P/ASX 200 index close. The benchmark rose 0.6 percent on Tuesday. New Zealand's benchmark S&P/NZX 50 index was mostly unchanged in early trade. (Reporting by Ambar Warrick in Bengaluru; Editing by Lisa Shumaker)

2018-09-12 00:14:17

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