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Reuters
Reuters
Business

Australia shares poised for a sombre start; New Zealand lower

FILE PHOTO - An investor is reflected in a window in front of a board displaying stock prices at the Australian Securities Exchange (ASX) in Sydney, Australia May 5, 2017. REUTERS/Steven Saphore

(Reuters) - Australian shares are seen edging lower at open on Wednesday, tracking Wall Street and a dip in base metal prices, while investors may also remain watchful of third quarter economic growth data to be out later in the day.

A Reuters poll shows expectation for the nation's Gross Domestic Product for the third quarter to have risen 0.7 percent from the previous quarter, and 3 percent from the same period last year.

The local share price index futures <YAPcm1> fell 0.54 percent, or 32 points to 5,948, a 23.8 point discount to the underlying S&P/ASX 200 index <.AXJO> close. The benchmark closed 0.2 percent lower in its previous session.

New Zealand's benchmark S&P/NZX 50 index <.NZ50> was down 0.07 percent, or 5.42 points to 8,170.79 at 2106 GMT.

(Reporting by Susan Mathew in Bengaluru; editing by Mark Heinrich)

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