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Thursday, July 7, 2022

Australian shares poised to slip on edgy global sentiment

Australian shares poised to slip on edgy global sentimentAustralian shares are set to start the week lower on Monday as trade tensions and worries over rising US interest rates capped investor optimism.

Concerns that trade frictions could dent global growth got a shot in the arm on Friday when China, Australia’s largest trading partner and the world’s second largest economy, posted its weakest economic growth since the global financial crisis, as it begins to feel the pinch of the U.S-led trade war.

The local share price index futures fell 0.2 percent, a 28.5-point discount to the underlying S&P/ASX 200 index close. The benchmark had closed marginally lower on Friday, but was up 0.7 percent for the week.

Markets in New Zealand were closed for a public holiday.

Copyright Reuters, 2018

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Source: Brecorder

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