Australia shares set to open lower; NZ falls

Australian shares were set to tumble on Friday, tracking U.S and global equity markets lower, as tech-related stocks were under pressure following a rise in U.S bond yields and with weaker bullion prices likely to weigh on domestic gold miners.

The local share price index futures fell 1.4%, a 138-point discount to the underlying S&P/ASX 200 index close.

The benchmark closed 0.9% higher on Thursday.

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