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Australia shares set to open lower after Fed remarks; NZ down
December 14, 2016 / 9:22 PM / 7 months ago

Australia shares set to open lower after Fed remarks; NZ down

2 Min Read

Dec 15 (Reuters) - Australian shares are set to fall on
Thursday, as investors digest the U.S. Federal Reserve
suggesting a faster pace of rate hikes next year in its policy
meeting, where it raised interest rates by a quarter point as
expected.
    Meanwhile, a stronger U.S. dollar, rising on the Fed
decision, might put some pressure on commodities-related stocks.
    The rate hike and expectations of three increases in 2017
come as president-elect Donald Trump gets ready to take charge
next month with promises to boost growth through tax cuts,
spending and deregulation. 
    The local share price index future fell 0.7
percent, or 39 points, to 5,543, a 41.62-point discount to the
underlying S&P/ASX 200 index close. The benchmark
finished 0.7 percent higher in the previous session.
    New Zealand's benchmark S&P/NZX 50 index was 0.16
percent, or 11.13 points, lower at 6,786.73 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 Kevin
Liffey)

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