August 4, 2019 / 10:14 PM / 4 months ago

Australian shares set to open cautiously amid China counter-threat, NZ down

    Aug 5 (Reuters) - Australian shares are expected to open
little changed on Monday, as rising trade frictions keep
investors at bay ahead of expected Chinese retaliation against a
new round of U.S. tariffs.
    On Friday, China's new U.N. ambassador said that China would
take "countermeasures" to protect its rights after U.S.
President Donald Trump threatened to slap a 10% tariff on $300
billion of Chinese imports.              
    The local share price index futures          was little
changed at 6,708, a 60.6 -point discount to the underlying
S&P/ASX 200 index         close. The benchmark fell 0.3% on
    New Zealand's benchmark S&P/NZX 50 index         fell 0.2%
to 10,840.72 in early trade. 

 (Reporting by Syed Saif Hussain Naqvi in Bengaluru; Editing by
Daniel Wallis)
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