Australia shares set for a weak start, NZ edges up

Credit: REUTERS/DAVID GRAY

Australian shares are set to open lower on Wednesday, with blue-chip miners likely to tumble after China vowed more oversight of iron ore prices.

May 26 (Reuters) - Australian shares are set to open lower on Wednesday, with blue-chip miners likely to tumble after China vowed more oversight of iron ore prices.

The local share price index futures fell 0.5%, a 34.2-point discount to the underlying S&P/ASX 200 index close. The benchmark closed at a two-week high on Tuesday.

New Zealand's benchmark S&P/NZX 50 index rose 0.3% to 12,380.29 in early trade, ahead of the central bank's quarterly monetary policy announcement coming later in the day.

(Reporting by Riya Sharma in Bengaluru Editing by Chris Reese) ((Riya.Sharma@thomsonreuters.com;)) ((For more information on DIARIES & DATA: U.S. earnings diary [RESF/US] Wall Street Week Ahead [.N/O] Global Economy Week Ahead [DATA/] ................................................................ For latest top breaking news across all markets

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