May 7, 2019 / 10:12 PM / 3 months ago

Australia shares likely to open lower; NZ drops

    May 8 (Reuters) - Australian shares are set to open lower on
Wednesday, tracking losses on Wall Street, as deteriorating
negotiations for a trade deal between the United States and
China cause investors to pull back from risk assets. 
    Chinese Vice Premier Liu He will travel to Washington for
two days of trade talks this week, China said on Tuesday,
setting up a last-ditch bid for a deal that would avoid a sharp
increase in tariffs on Chinese goods ordered by U.S. President
Donald Trump.             
    The local share price index futures          fell 0.8
percent, a 62.7-point discount to the underlying S&P/ASX 200
index         close. The benchmark rose 0.2 percent on Tuesday.
    New Zealand's benchmark S&P/NZX 50 index         fell 0.5
percent in early trade.

 (Reporting by Shreya Mariam Job in Bengaluru; editing by
Jonathan Oatis)
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