May 15, 2018 / 10:17 PM / 12 days ago

Australia shares set to slip; NZ down

    May 16 (Reuters) - Australian shares are expected to open
lower on Wednesday, tracking a decline on Wall Street as bond
yields surged after strong retail sales data raised inflation
concerns.
    Locally, investors will be watching Australia's
first-quarter wage growth data, due later in the day, for
updates on inflation and labour market outlook.
    The local share price index futures          shed 0.12
percent or 7 points to 6,093, a 4.8-point discount to the
underlying S&P/ASX 200 index         close. The benchmark fell
0.6 percent on Tuesday.
    New Zealand's benchmark S&P/NZX 50 index         fell 1.6
percent at 2207 GMT, dragged down by a2 Milk          shares. 

 (Reporting by Shanima A in Bengaluru; Editing by Peter Cooney)
  
 
 
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