Australia shares set to open lower; New Zealand up
July 22 (Reuters) - Australian shares are expected to open
lower on Monday, following Wall Street's decline on Friday after
a newspaper report trimmed hopes of an aggressive interest rate
cut by the Federal Reserve at the end of the month.
According to the Wall Street Journal report, the Fed is not
prepared to make a bigger 50-basis-point cut but may make
further rate cuts in the future given concerns about a decline
in global economic growth and uncertainty about trade.
The local share price index futures fell 0.4% or 26
points to 6,616, an 84.3-point discount to the underlying
S&P/ASX 200 index close. The benchmark rose 0.8% on
New Zealand's benchmark S&P/NZX 50 index rose 0.2%
in early trade.
(Reporting by Shanima A in Bengaluru; Editing by Peter Cooney) 2019-07-22 00:14:30
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