April 3, 2017 / 10:46 PM / 6 months ago

Australia shares seen edging down, NZ lower

    April 4 (Reuters) - Australian shares were expected to open
lower on Tuesday, tracking Wall Street, while investors also
awaited the outcome of the Australian central bank's April
meeting.
    Reserve Bank of Australia is expected to stand pat on its
1.5 percent cash rate in the meeting later in the day, according
to a Reuters poll.             
    Meanwhile, copper miners in the region may face some
pressure on lower copper prices, while oil stocks may be headed
for a rough session as oil prices fell overnight.            
    Regionally, damage to rail lines in cyclone-hit northeast
Australia is expected to disrupt exports of the steel-making
material from the world's largest coking coal region and may put
some pressure on coal mines operators.              
    The local share price index futures          was down 0.17
percent, or 10 points at 5,489, representing a 23.7 points
discount to the underlying S&P/ASX 200 index         close. 
    The benchmark closed 0.1 percent up in the previous session.
    New Zealand's benchmark S&P/NZX 50 index         fell 0.3
percent, or 24.08 points to 7,200.94 at 1025 GMT. 
    
For a summary of overnight action across global markets, double
click on          
       
For a digest of the day's business stories in Australian 
newspapers, double click on            

 (Reporting by Susan Mathew in Bengaluru; Editing by Andrew Hay)
  
 
 

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