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Reuters
Reuters
Business

Australian shares to open lower on recession fears; New Zealand falls

FILE PHOTO: A pedestrian is reflected in a window where an investor sits looking at a board displaying stock prices at the Australian Securities Exchange (ASX) in Sydney, Australia February 9, 2018. REUTERS/David Gray

(Reuters) - Australian shares are expected to decline on Thursday, as weaker than expected U.S. payroll data piled on to lingering global recession worries, while a drop in oil prices may hurt local energy firms.

Global equities continued their slide after a report showed U.S. private employers hired fewer workers in September, as the labour market came under pressure amid Washington's longstanding tariff dispute with Beijing.

The Aussie share price index futures <YAPcm1> fell 1.8%, a 145.9-point discount to the underlying S&P/ASX 200 index <.AXJO> close. The benchmark fell 1.5% to a three-week low on Wednesday.

New Zealand's benchmark S&P/NZX 50 index <.NZ50> fell 0.7% in early trade.

(Reporting by Anushka Trivedi in Bengaluru, Editing by Rosalba O'Brien)

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