July 21 (Reuters) – Australian shares were set for a subdued
start on Friday after Wall Street closed flat in its previous
session with soft commodity prices expected to further weaken
sentiment.
China steel rebar and steelmaking raw material futures sank
on Thursday as speculative investors booked profits while oil
settled lower as concerns over abundant global crude supplies
persisted.
The local share price index futures fell 0.19
percent to 5688 points, a 73.5-point discount to the underlying
S&P/ASX 200 index close. The benchmark rose 0.5 percent
on Thursday.
New Zealand’s benchmark S&P/NZX 50 index fell 0.08
percent in early trade.

(Reporting by Urvashi Goenka in Bengaluru)

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