March 9 Australian shares looked set to open
lower on Thursday with resources stocks expected to slide on
weaker commodity prices.
The local share price index future was down 0.2
percent or 12 points at 5,735, a 24.7-point discount to
Wednesday's close on the underlying S&P/ASX 200 index .
Oil prices plunged 5 percent to their lowest levels this
year on Wednesday after data showing a much bigger than expected
rise in U.S. inventories.
Chinese steel futures sagged as investors locked in recent
gains, while iron ore on the Dalian Commodity Exchange
ended flat, after three days of declines.
New Zealand's benchmark S&P/NZX 50 index was flat at
7,179.05 in early trade.
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(Reporting by Anusha Ravindranath in Bengaluru; Editing by