October 1, 2019 / 9:15 PM / 18 days ago

Australian shares to slide mirroring Wall Street; NZ down

    Oct 2 (Reuters) - Australian shares are expected to fall on
Wednesday, tracking Wall Street, as an unexpected drop in U.S.
factory activity added to fears of a global manufacturing
recession. 
    U.S. factory output in September contracted to its weakest
in over a decade, hurt by a dent in business conditions due to
the prolonged trade spat with China. The dismal data from U.S.
came in line with a continued slowdown in euro zone, China,
Japan and the United Kingdom's respective manufacturing sectors.
                 
    The local share price index futures          fell 1.1%, a
91.8-point discount to the underlying S&P/ASX 200 index        
close. The benchmark rose 0.8% on Tuesday.
    New Zealand's benchmark S&P/NZX 50 index         slipped
about 0.2% in early trade.

 (Reporting by Anushka Trivedi in Bengaluru; Editing by Tom
Brown)
  
 
 
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