Views Article – Sharenet Wealth

Australasia, News

Australia shares set to open lower, NZ rises in early trade

By Soumyajit Saha June 18 (Reuters) – Australian shares are set to open lower on Thursday as a rise in coronavirus cases globally weighs on sentiment, while weaker iron ore and oil prices will likely hurt index heavyweights. Virus-led restrictions were extended in Beijing as it fought the worst resurgence of the disease in four months, while new infections hit record highs in six U.S. states. Both oil and iron ore prices suffered from concerns of oversupply as demand ambled. In Australia, the trade minister warned of a possible ban on international travelers to the country till 2021. The local share price index futures fell 0.5%, a 15.8-point discount to the underlying S&P/ASX 200 index close. The benchmark rose 0.83% on Thursday. In New Zealand, the benchmark S&P/NZX 50 index rose 3.5% to 11,334.3 in early trade. (Reporting by Soumyajit Saha in Bengaluru; Editing by Sandra Maler)

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