November 23, 2017 / 9:31 PM / a year ago

Australia shares to open flat; NZ up

Australian shares are likely to open relatively flat on Friday
as the slump in Chinese stocks is expected to weigh on investors
risk sentiment.
    Worries over a sustained bond selloff in China bled into the
country's stock markets on Thursday, dealing blue chips their
worst one-day loss in nearly 18 months, as investors reacted to
the government's latest measures to reduce risks in the
financial system.      
    Consumer stocks are expected to be one of the biggest drags
on the index as global retail juggernaut Inc's
         Australian arm began an order-taking trial on Thursday,
giving life to the fanfare which has preceded its arrival.
    However, the losses are expected to be capped by gains in
the material and energy stocks which are likely to gain from
rising prices for oil and metals. 
    The local share price index futures          fell 0.1
percent or 7 points to 5,985, a 1.2-point discount to the
underlying S&P/ASX 200 index         close. The benchmark fell
0.213 points on Thursday. 
    New Zealand's benchmark S&P/NZX 50 index         rose 0.3
percent or 21.340 points to 8,123.290 in early trade.

 (Reporting by Aditya Soni in Bengaluru Editing by Jeremy Gaunt)
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