SYDNEY: Australian shares are poised to fall on Monday, tracking a global equities sell-off on continued uncertainty around a rate hike in the United States and a stock market rout in China.
Analysts, however, expect a depreciating Australian dollar to provide some support to the local market as it makes stocks appear cheaper for foreign fund managers.
Share price index futures fell 0.6 per cent to 4,997 points, sitting at a 43.6-point discount to the underlying S&P/ASX 200 index. The benchmark edged up 0.25 per cent on Friday to 5,040.6 points but posted its biggest weekly fall since June.
Australia-AIG construction index performance for August and jobs data for the same month are due later in the day. Westpac Banking Corp is expected to give a strategy update on Monday. New Zealand’s benchmark NZX 50 index barely moved at 5,546.95 points in early trade.
