June 17, 2020 / 10:14 PM / 2 months ago

Australia shares set to open lower, NZ rises in early trade

    By Soumyajit Saha
    June 18 (Reuters) - Australian shares are set to open lower
on Thursday as a rise in coronavirus cases globally weighs on
sentiment, while weaker iron ore and oil prices will likely hurt
index heavyweights.
    Virus-led restrictions were extended in Beijing as it fought
the worst resurgence of the disease in four months, while new
infections hit record highs in six U.S. states.             
            
    Both oil and iron ore prices suffered from concerns of
oversupply as demand ambled.                 
    In Australia, the trade minister warned of a possible ban on
international travelers to the country till 2021.               
    The local share price index futures          fell 0.5%, a
15.8-point discount to the underlying S&P/ASX 200 index        
close. The benchmark rose 0.83% on Thursday.
    In New Zealand, the benchmark S&P/NZX 50 index         rose
3.5% to 11,334.3 in early trade.

 (Reporting by Soumyajit Saha in Bengaluru; Editing by Sandra
Maler)
  
 
 
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