October 22, 2018 / 9:24 PM / a month ago

Australia shares set to open lower; NZ falls

    Oct 23 (Reuters) - Australian shares are expected to edge
lower early on Tuesday, tracking global sentiment, as relief
over Moody's decision to keep Italy's sovereign rating outlook
stable as well as economic stimulus in China proved short-lived.
    The relief rally in Italy subsided with analysts citing
concerns that Moody’s might be willing to cut the outlook to
negative during the course of next year.             
   Beijing's planned tax cuts for next year will likely exceed
the extent of those seen in the United States, a central bank
adviser said in remarks published on Monday.             
    The local share price index futures          fell 0.2
percent, a 25.9-point discount to the underlying S&P/ASX 200
index         close. The benchmark had closed 0.6 percent lower
at 5904.9 on Monday. 
    New Zealand's benchmark S&P/NZX 50 index         fell 0.2
percent in early trade, resuming after Monday's holiday.

 (Reporting by Aby Jose Koilparambil in Bengaluru
Editing by Phil Berlowitz)
  
 
 
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