Australian shares likely to open lower, NZ falls

March 8 (Reuters) - Australian shares were set to open lower on Wednesday, tracking overnight losses on Wall Street after U.S. Federal Reserve Chair Jerome Powell said the central bank is likely to raise interest rates more than previously expected. The local share price index futures fell 0.82%, a 92.7-point discount to the underlying S&P/ASX 200 index close. The benchmark ended 0.5% higher on Tuesday.

New Zealand's benchmark S&P/NZX 50 index was down 0.4% in early trade.

(Reporting by John Biju in Bengaluru Editing by Chris Reese)

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off-the-wire

Australian shares likely to open lower, NZ falls

By Reuters

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