January 3, 2019 / 9:31 PM / 13 days ago

Australian shares set to drop as Wall Street slides on growth fears; NZ down

    Jan 4 (Reuters) - Australian shares are set to open lower on
Friday after Apple's revenue warning rocked Wall Street and
added to fears of a global economic slowdown.
    Apple's holiday quarter revenue shortfall sent shockwaves
through equity markets globally, with the tech company blaming
sales in China, stoking fears that Australia's largest trading
partner is being dragged under by the uncertainty of the
Sino-U.S. trade battle.
    The local share price index futures          fell 0.6
percent, a 92.4-point discount to the underlying S&P/ASX 200
index         close. The benchmark had gained 1.4 percent on
Thursday as a weaker Australian dollar boosted export-oriented
stocks.
    New Zealand's benchmark S&P/NZX 50 index         fell 0.3
percent in early trade.
    
       

 (Reporting by Nikhil Kurian Nainan in Bengaluru)
  
 
 
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