December 12, 2016 / 9:30 PM / 8 months ago

Australian shares likely to inch lower; NZ flat

Dec 13 (Reuters) - Australian shares looked set to edge
lower on Tuesday, snapping five straight sessions of gains, with
bank stocks likely to lose some momentum in line with U.S.
financials, ahead of the Federal Reserve's year-end meeting.
    Investors are widely expecting the Federal Reserve to hike
rates at a two-day meeting, beginning on Tuesday, and their
focus has switched to what tone Fed Chair Janet Yellen takes in
her statement on Wednesday.
    The local share price index futures fell 0.4
percent, or 21 points, to 5,554, an 8.8-point discount to the
underlying S&P/ASX 200 index at its close. The benchmark
ended 0.04 percent higher on Monday and has risen 3 percent in
the five previous sessions. 
    New Zealand's benchmark S&P/NZX 50 index was flat
with a positive bias 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 Suhail Hassan Bhat in Bengaluru; Editing by
Louise Ireland)

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