August 14, 2019 / 10:21 PM / 2 months ago

Australian shares set to plunge amid global slump, NZ falls

    Aug 15 (Reuters) - Australian shares are set to open sharply
lower on Thursday, following steep falls in global equity
markets, as growing fears of a looming recession in the world's
largest economy is expected to dent local sentiment.
    Yields on two-year U.S. Treasury notes rose above the
benchmark 10-year yield for the first time since June 2007, a
closely-watched metric for recession signals.      
    The local share price index futures          fell 2.1% to
6,400, a 195.9-point discount to the underlying S&P/ASX 200
index         close. The benchmark closed 0.4% higher on
Wednesday. 
    New Zealand's benchmark S&P/NZX 50 index         was down
1.2% to 10,722.13 in early trade.

 (Reporting by Shriya Ramakrishnan in Bengaluru, editing by G
Crosse)
  
 
 
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