November 9, 2017 / 9:23 PM / a month ago

Australia shares set to open lower; NZ slips

    Nov 10 (Reuters) - Australian shares are expected to drift
lower on Friday tracking a broad sell-off on Wall Street and
other major bourses, as concerns over delay in the
Republican-led corporate U.S. tax cut hurt risk sentiment.
    Republican Senator Bill Cassidy said the Senate tax proposal
would delay a U.S. corporate tax cut by a year to 2019, while
Senator John Cornyn said Senate Republicans were looking to
avoid such a delay.     
    In Australia, material stocks are expected to come under
pressure as iron ore prices fell over 1 percent on
Thursday.          
    The local share price index futures          fell 0.5
percent, or 28 points to 6,015, a 34.4-point discount to the
underlying S&P/ASX 200 index         close. The benchmark ended
0.6 percent higher on Thursday.
    New Zealand's benchmark S&P/NZX 50 index         fell 0.2
percent, or 12.70 points to 8,008.39 in early trade.

 (Reporting by Sandhya Sampath in Bengaluru; Editing by Toby
Chopra)
  
 
 

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