October 11, 2018 / 9:16 PM / 6 days ago

Aussie shares set for another round of drubbing; NZ falls 1 pct

    Oct 12 (Reuters) - Australian shares are likely to extend
sharp losses on Friday, after suffering their worst drubbing in
over eight months as risk appetite was battered by the Sino-U.S.
trade war and the prospect of aggressive rate hikes from U.S.
Federal Reserve.
    A measure of world equity prices fell to a one-year low on
Thursday as Wall Street extended its October slide into a sixth
session, a day ahead of the beginning of corporate earnings
season that will reflect the impact of a bitter trade conflict
between Beijing and Washington.            
    The local share price index futures          fell 0.8
percent or 47 points to 5,778, a 105.8-point discount to the
underlying S&P/ASX 200 index         close. The benchmark fell
2.7 percent on Thursday in line with a global sell-off.  
    New Zealand's benchmark S&P/NZX 50 index         fell 1
percent or 89.84 points to 8,631.36.

 (Reporting by Aditya Soni in Bengaluru; Editing by Peter
Cooney)
  
 
 
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