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Reuters
Reuters
Business

Australia shares set to decline; New Zealand up

FILE PHOTO: Pedestrians are reflected in a window in front of a board displaying stock prices at the Australian Securities Exchange (ASX) in Sydney, Australia, February 9, 2018. REUTERS/David Gray

Australian shares are likely to open lower on Wednesday following two days of gains as Sino-U.S. tensions over Hong Kong are expected to weigh on sentiment.

U.S. President Donald Trump said on Tuesday he is preparing to take action against China this week over its effort to impose national security laws on Hong Kong, but did not give details.

The local share price index futures <YAPcm1> fell 1.1%, a 36-point discount to the underlying S&P/ASX 200 index <.AXJO> close. The benchmark rose 2.9% on Tuesday.

New Zealand's benchmark S&P/NZX 50 index <.NZ50> rose 0.5% in early trade

(Reporting by Shreya Mariam Job in Bengaluru; Editing by Leslie Adler)

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