June 21, 2020 / 10:01 PM / 21 days ago

Australia shares set to open lower; NZ rises

    By Soumyajit Saha
    June 22 (Reuters) - Australian shares are likely to open
lower on Monday as the rising number of coronavirus cases at
home and around the world diminish hopes of a quick recovery
from the pandemic-induced economic downturn.
    The state of Victoria on Sunday extended its state of
emergency, faced with a spike in infections, while a senior U.S.
Federal Reserve official said on Friday that economic recovery
from the crisis could take longer than expected, and potentially
include a second wave of infections.                          
    The local share price index futures          fell 1.3%, an
88.6-point discount to the underlying S&P/ASX 200 index        
close. The benchmark rose 0.1% on Friday.
    In New Zealand, the benchmark S&P/NZX 50 index         was
up 0.26% in early trade.
    
       

 (Reporting by Soumyajit Saha in Bengaluru; Editing by Peter
Cooney)
  
 
 
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