Australian shares set to open lower, NZ slips

Aug 13 (Reuters) - Australian shares are poised to open lower on Tuesday, tracking a broad sell-off on Wall Street, but losses will likely be curbed by gains among gold stocks on strong demand for safe-haven assets. Trade-related worries heightened after Goldman Sachs Group warned on Sunday that its economists see increased recessionary fears due to the trade war, and that a trade deal looked unlikely before the 2020 U.S. presidential election. The local share price index futures fell 0.8% to 6,480, a 110.3-point discount to the underlying S&P/ASX 200 index close. The benchmark closed 0.1% higher on Monday. New Zealand's benchmark S&P/NZX 50 index fell 0.4% to 10,826.81 in early trade. (Reporting by Shriya Ramakrishnan in Bengaluru; Editing by Lisa Shumaker)

2019-08-13 00:16:57

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