Aussie shares could fall on weakness in bank stocks, NZ flat

March 13 (Reuters) - Australian shares were set to decline
on Wednesday as an extended fall in financial stocks could weigh
on sentiment.
Financial stocks staged a reversal to fall 0.4
percent late in Tuesday's session after the federal government
said it would no longer seek to abolish hidden commission
payments to home loan brokers by banks, reversing a key
recommendation from an inquiry into the sector and potentially
placing banks in the political spotlight.
However, commodity stocks could help brace against weakness,
boosted by underlying strength in base metal and oil prices.

The local share price index futures were 0.1
percent, or 9 points lower to 6,164, a 10.8-point discount to
the underlying S&P/ASX 200 index close. The benchmark
ended 0.1 percent lower on Tuesday.
New Zealand's benchmark S&P/NZX 50 index was
unchanged in early trade.

(Reporting by Devika Syamnath in Bengaluru; Editing by Cynthia
Osterman)



2019-03-12 23:12:29

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