January 29, 2018 / 9:09 PM / 22 days ago

Australia shares to track U.S. stocks lower; NZ flat

    Jan 30 (Reuters) - Australian shares are set to slide on
Tuesday, taking their cue from a lower finish on Wall Street,
while a fall in commodities prices could lead to a weakness in
materials stocks.
    The three main U.S. indexes retreated sharply on Monday from
record levels last week, with the Dow falling more than 100
points, weighed down by Apple after a media report added to
concerns about demand for the iPhone X.     
    Meanwhile, Chinese iron ore futures fell to their weakest
level in a month.           
    The local share price index futures          fell 0.5
percent or 27 points to 5,983, a 92.4-point discount to the
underlying S&P/ASX 200 index         close. The benchmark added
0.4 percent on Monday. 
     New Zealand's benchmark S&P/NZX 50 index         fell
16.540 points or 0.2 percent to 8,311.050 in early trade.
    
       

 (Reporting by Aditya Soni in Bengaluru)
  
 
 
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