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Australia shares seen pressured by China worries, falling commodities
September 1, 2015 / 11:12 PM / 2 years ago

Australia shares seen pressured by China worries, falling commodities

SYDNEY, Sept 2 (Reuters) - Australian shares are set to open
lower on Wednesday following a negative lead from Wall Street on
more signs of economic weakness in China and uncertainty about
the timing of a Federal Reserve interest rate rise.  
    Energy-related stocks are likely to feel the pinch after oil
prices reversed earlier gains, plummeting 8 percent overnight.
    Focus will be on Australia's GDP data due at 0130 GMT and
expected to show the economy growing at a pedestrian 0.4 percent
for the quarter. 
    Local index futures fell 62 points to 4,997.0, a
99.4-point discount to the underlying S&P/ASX 200 index 
close. The benchmark fell 1.2 percent or 110.6 points to 5,096.4
in the previous session, extending losses after marking its
worst monthly performance since 2008 in August.
    New Zealand's benchmark NZX 50 index fell 1.3
percent or 74.1-points to 5,580 in early trade.
    
For a summary of overnight action across global markets, double
click on 
       
For a digest of the day's business stories in Australian 
newspapers, double click on 

 (Reporting by Pauline Askin; Editing by Eric Meijer)

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