Australia shares likely to open lower on QE taper, Sydney lockdown

Australian shares are set to open lower on Wednesday, after the domestic central bank took its first step towards tapering its massive stimulus program, and as a virus-led lockdown in Sydney is set to be extended by a further one week to July 16.

The local share price index futures were 0.15% lower, and at a 99.8-point discount to the underlying S&P/ASX 200 index close. The benchmark fell 0.7% on Tuesday.

New Zealand's benchmark S&P/NZX 50 index fell 0.21% in early trade.