Australia shares set to drop in line with global sell-off, NZ down

Credit: REUTERS/STEVEN SAPHORE

Australian shares are likely to fall on Thursday as a jump in global cases of the novel coronavirus spooked investors, stoking worries of prolonged restrictions that could damage nascent economic recovery.

Oct 29 (Reuters) - Australian shares are likely to fall on Thursday as a jump in global cases of the novel coronavirus spooked investors, stoking worries of prolonged restrictions that could damage nascent economic recovery.

The local share price index futures declined 1.7%, or 103 points by 2122 GMT, a 115.7-point discount to the underlying S&P/ASX 200 index close. The benchmark rose 0.1% on Wednesday.

New Zealand's benchmark S&P/NZX 50 index fell 0.9% in early trade.

(Reporting by Anushka Trivedi in Bengaluru Editing by Chris Reese) ((Anushka.Trivedi@thomsonreuters.com; +918061823241;)) ((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

[NEWS1])) Keywords: AUSTRALIA STOCKS/MORNING

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