September 20, 2017 / 10:17 PM / a year ago

Australia shares set to open slightly lower, NZ up

    By Aditya Soni
    Sept 21 (Reuters) - Australian shares are set to open
slightly lower on Thursday as basic materials stocks are
expected to be under pressure due to persistent weakness in iron
ore prices.
    Iron ore futures in China dropped to their lowest in nearly
two months on Wednesday, affected by weaker steel prices and an
environmental campaign by Beijing that has limited operations of
sinter facilities.           
    The local share price index futures          rose 0.05
percent, or 3 points to 5,715, a 5.9-point premium to the
underlying S&P/ASX 200 index         close. The benchmark fell
0.1 percent on Wednesday. 
    New Zealand's benchmark S&P/NZX 50 index         rose 0.09
percent to 7,825.85 by 2212 GMT.

 (Reporting by Aditya Soni in Bengaluru; Editing by Jonathan
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