July 9, 2020 / 10:27 PM / in a month

Australia shares set to drop as shutdown fears loom; NZ up

    July 10 (Reuters) - Australian shares are likely to drop on
Friday, tracking a fall in U.S. peers, as a surge in coronavirus
cases stoked fears of new rounds of lockdowns and deepening
global economic fallout from the pandemic.
    Investor sentiment took a hit as a record-breaking number of
coronavirus cases and deaths in several U.S. states dimmed hopes
of economic recovery, while worldwide coronavirus cases crossed
12.16 million.                          
    In Australia, Queensland is set to tighten its border by
banning non-residents from Victoria entering the state from
Friday noon. New South Wales and South Australia closed their
borders with Victoria earlier in the week.            
    The local share price index futures YAPcm1 fell 0.4%, a
59.5-point discount to the underlying S&P/ASX 200 index        
close. The benchmark ended 0.6% higher in the previous session.
    New Zealand's benchmark S&P/NZX 50 index         marginally
rose 0.3% to 11,478.73 points in early trade. 
    
       

 (Reporting by Shruti Sonal in Bengaluru; Editing by Leslie
Adler)
  
 
 
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