October 10, 2018 / 9:30 PM / a month ago

Australia shares to open lower following slide in global stocks; NZ falls

    Oct 11 (Reuters) - Australian shares are set to open lower
on Thursday, tracking a sharp fall on Wall Street, with rising
U.S. bond yields prompting investors to reassess values of
equities. 
    Stocks on major world markets slid to a three-month low on
Wednesday, with the benchmark S&P500 stock index falling more
than 3.0 percent, its biggest one-day fall since February.
           
    Benchmark U.S. 10-year Treasury notes             rose late
in the day, pushing yields down to 3.1931 percent. Yields on
3-year notes have recently traded just above 3.0 percent,
providing long-absent competition for investment returns with
equities.
    The local share price index futures          fell 1.8
percent or 109 points to 5,914, a 135.8-point discount to the
underlying S&P/ASX 200 index         close. The benchmark rose
0.1 percent on Wednesday.
    New Zealand's benchmark S&P/NZX 50 index         fell 0.2
percent or 19.16 points to 9,050.82 by 2115 GMT.

 (Reporting by Aditya Soni in Bengaluru; editing by Diane Craft)
  
 
 
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