(Corrects eighth paragraph to show GDP data due out on
Thursday, not later on Wednesday; adds dropped word 'data')
March 15 Australian shares are set to open lower
on Wednesday, tracking Wall Street, as a slump in oil prices is
likely to weigh on resources stocks.
Oil prices slid to three-month lows after OPEC reported a
rise in global crude stockpiles and a jump in production from
its biggest member, Saudi Arabia, despite a deal to curb supply.
Investors are also waiting for the outcome of the Federal
Reserve's two-day meeting, with traders pricing in a 90 percent
chance the Fed will raise interest rates a quarter of a point.
The central bank's statement is due at 1800 GMT on Wednesday
followed by a press conference by Fed Chair Janet Yellen.
The local share price index futures fell 0.2
percent, or 10 points to 5,752, a 7.1-point discount to the
underlying S&P/ASX 200 index close.
The benchmark closed 0.03 percent higher on Tuesday.
New Zealand's benchmark S&P/NZX 50 index fell 0.2
percent, or 13.39 points to 7,163.70 by 2115 GMT.
Annual gross domestic product data for the country, due out
on Thursday, is expected to be around 3.1 percent, down from 3.5
percent the previous quarter, a Reuters poll showed.
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(Reporting by Krishna V Kurup in Bengaluru, editing by Larry