January 31, 2018 / 9:13 PM / 3 months ago

Australian shares set to slide; NZ falls

    Feb 1 (Reuters) - Australian shares are poised to slide on
Thursday, pressured by a fall in iron ore prices that could hurt
related commodity stocks and by a decline on Wall Street,
following hawkish comments by the U.S. Federal Reserve.
    Iron ore on the Dalian Commodity Exchange           fell 1.4
percent at 510 yuan on Wednesday.
    Meanwhile, U.S. stocks reversed from gains earlier in the
session to trade lower on Wednesday after the Fed said it sees
inflation rising this year, signaling it remains on track to
boost interest rates again in March.
    Australian share price index futures          fell 0.1
percent or 3 points, a 59.7-point discount to the underlying
S&P/ASX 200 index         close. The benchmark added 0.3 percent
on Wednesday. 
    New Zealand's benchmark S&P/NZX 50 index         fell 0.2
percent or 19.490 points to 8,422.520 in early trade.
    
       

 (Reporting by Aditya Soni in Bengaluru)
  
 
 
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