March 8, 2017 / 9:20 PM / 5 months ago

Australia shares set to open down as resources drag, NZ flat

    March 9 (Reuters) - Australian shares looked set to open
lower on Thursday with resources stocks expected to slide on
weaker commodity prices.
    The local share price index future          was down 0.2
percent or 12 points at 5,735, a 24.7-point discount to
Wednesday's close on the underlying S&P/ASX 200 index        .
    Oil prices plunged 5 percent to their lowest levels this
year on Wednesday after data showing a much bigger than expected
rise in U.S. inventories.             
    Chinese steel futures sagged as investors locked in recent
gains, while iron ore on the Dalian Commodity Exchange          
ended flat, after three days of declines.           
    New Zealand's benchmark S&P/NZX 50 index         was flat at
7,179.05 in early trade.
  
    For a summary of overnight action across global markets,
double click on          
    For a digest of the day's business stories in Australian 
newspapers, double click on            

 (Reporting by Anusha Ravindranath in Bengaluru; Editing by
Catherine Evans)
  
 
 

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