Aug 16 () – Australian shares are set to open lower
on Friday, extending falls for a second straight session, on
fears of an impending global recession and China’s warning of
retaliation against U.S. tariffs.
China on Thursday vowed to counter the latest U.S. tariffs
on $300 billion of Chinese goods but called on the United States
to meet it halfway on a potential trade deal, as U.S. President
Donald Trump said any pact would have to be on America’s terms.
The local share price index futures fell 0.4% to
6,351, a 57.1-point discount to the underlying S&P/ASX 200 index
close. The benchmark closed 2.9% lower on Thursday.
New Zealand’s benchmark S&P/NZX 50 index edged lower
to 10,702.83 in early trade.
(Reporting by Shriya Ramakrishnan in Bengaluru
Editing by Chris Reese)
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