Australia shares set to track Wall Street lower; NZ dips

(Reuters) – Australian shares are poised to open lower on Wednesday, as investors take their cue from a weak session on Wall Street.

© Reuters/Steven Saphore
FILE PHOTO: An investor is reflected in a window in front of a board displaying stock prices at the Australian Securities Exchange in Sydney, Australia

The local share price index futures dipped 0.2%, a 60.2-point discount to the underlying S&P/ASX 200 index close. The benchmark ended 0.9% higher on Tuesday.

Woolworths Group, the country’s top grocer, is set to report half-year results a week after rival Coles Group warned that pandemic-fuelled stockpiling may come to an end.

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New Zealand’s central bank, which is scheduled to conduct its meeting later on Wednesday, is expected to maintain the official cash rate (OCR) at the historic low of 0.25% for the rest of the year, according to a Reuters poll.

New Zealand’s benchmark S&P/NZX 50 index dipped 0.2% to 12,368.2 points by 2125 GMT.

(This story corrects fourth paragraph to say ‘New Zealand’, not Australia’s central bank meeting is later.)

(Reporting by Harish Sridharan in Bengaluru; Editing by Peter Cooney)