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Australia shares set to track Wall Street lower; NZ dips

Australian shares are poised to open lower on Wednesday, as investors take their cue from a weak session on Wall Street.

The local share price index futures dipped 0.2%, a 60.2-point discount to the underlying S&P/ASX 200 index close. The benchmark ended 0.9% higher on Tuesday.

Woolworths Group, the country’s top grocer, is set to report half-year results a week after rival Coles Group warned that pandemic-fuelled stockpiling may come to an end.

Australia’s central bank, which is scheduled to conduct its meeting later on Wednesday, is expected to maintain the official cash rate (OCR) at the historic low of 0.25% for the rest of the year, according to a Reuters poll.

New Zealand’s benchmark S&P/NZX 50 index dipped 0.2% to 12,368.2 points by 2125 GMT.

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