News: Australian shares set to extend losses, NZ stocks fall over 1%

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    Aug 6 (Reuters) - Australian shares were expected to open lower on Tuesday after losing over 5% in the previous two sessions as a global selloff induced by U.S. recession fears continued, while investors cautiously waited for a local interest rate decision due later in the day.

    The local share price index futures YAPcm1 fell 0.4%, a 73.6-point discount to the underlying S&P/ASX 200 index (xjo) close. The benchmark slumped 3.7% on Monday.

    New Zealand's benchmark S&P/NZX 50 index (nz50) was 1.1% lower in early trade.

 
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