Australian shares are expected to edge lower early on Tuesday, tracking global sentiment, as relief over Moody’s decision to keep Italy’s sovereign rating outlook stable as well as economic stimulus in China proved short-lived.
The relief rally in Italy subsided with analysts citing concerns that Moody’s might be willing to cut the outlook to negative during the course of next year.
Beijing’s planned tax cuts for next year will likely exceed the extent of those seen in the United States, a central bank adviser said in remarks published on Monday.
The local share price index futures fell 0.2 percent, a 25.9-point discount to the underlying S&P/ASX 200 index close. The benchmark had closed 0.6 percent lower at 5904.9 on Monday.
New Zealand’s benchmark S&P/NZX 50 index fell 0.2 percent in early trade, resuming after Monday’s holiday.
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Source: Brecorder
