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Australia shares set to open lower; NZ falls

Published 23/10/2018, 08:22 am
Updated 23/10/2018, 08:30 am
© Reuters.  Australia shares set to open lower; NZ falls

© Reuters. Australia shares set to open lower; NZ falls

Oct 23 (Reuters) - Australian shares are expected to edge lower early on Tuesday, tracking global sentiment, as relief over Moody's decision to keep Italy's sovereign rating outlook stable as well as economic stimulus in China proved short-lived.

The relief rally in Italy subsided with analysts citing concerns that Moody's might be willing to cut the outlook to negative during the course of next year. planned tax cuts for next year will likely exceed the extent of those seen in the United States, a central bank adviser said in remarks published on Monday. local share price index futures YAPcm1 fell 0.2 percent, a 25.9-point discount to the underlying S&P/ASX 200 index .AXJO close. The benchmark had closed 0.6 percent lower at 5904.9 on Monday.

New Zealand's benchmark S&P/NZX 50 index .NZ50 fell 0.2 percent in early trade, resuming after Monday's holiday.

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