March 24, 2019 / 9:15 PM / 3 months ago

Aussie shares poised to open lower on global growth fears, NZ drops

    March 25 (Reuters) - Australian shares are set to open lower
on Monday following a weaker Wall Street finish on Friday, when
gloomy U.S. factory data led to an inversion of U.S. Treasury
yields, feeding fears of a global economic downturn. 
    U.S. Treasury 10-year note yields dropped below three-month
Treasury bill yields for the first time since 2007 after the
disappointing U.S. manufacturing and services data.             
    This prompted investors to flee risk-sensitive assets as a
yield curve inversion is seen as an indicator of looming
recession.
    The local share price index futures          fell 0.8
percent or 50 points to 6,133, a 62.2-point discount to the
underlying S&P/ASX 200 index         close. The benchmark ended
0.5 percent higher on Friday. 
    New Zealand's benchmark S&P/NZX 50 index         fell 0.7
percent or 69.57 points to 9,481.42 in early trade.
    
       

 (Reporting by Aditya Soni in Bengaluru; Editing by Chris Reese)
  
 
 
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