October 4, 2016 / 9:21 PM / 10 months ago

Australia shares set for weak start, NZ extends losses

Oct 5(Reuters) - Australian shares are set for a soft start
on Wednesday, tracking Wall Street, on fears over Britain's exit
from the European Union and the prospect of a December U.S. Fed
rate hike.
    Angst about future interest rate hikes returned to the fore
after Richmond Federal Reserve President Jeffrey Lacker said he
would have voted in favor of an interest rate hike at the Fed's
September policy meeting, reflecting the growing pressure on Fed
Chair Janet Yellen to raise rates. 
    The local share price index futures fell 0.6
percent to 5,442, a 42-point discount to the underlying S&P/ASX
200 index close. The benchmark closed up 0.1 percent or
5.4 points to 5,484 at the close of trade on Tuesday.
    New Zealand's benchmark S&P/NZX 50 index fell for a
second consecutive session,  sliding 0.3 percent to 7,333.26 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 Justin George Varghese in Bengaluru)

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