Australian shares set for lower open; NZ up

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 May 28 (Reuters) - Australian shares are expected to slip on
Friday in line with Wall Street losses as heightened tensions
between China and the United States is expected to weigh on
sentiment. U.S. National Economic Council Director Larry Kudlow said on
Thursday that Hong Kong may now need to be treated like China
when it comes to trade and other financial matters, given
Beijing's move to enact a new law Washington warns would
undermine the city's autonomy. The local share price index futures fell 0.3%, a
15.1-point discount to the underlying S&P/ASX 200 index close. The benchmark rose 1.3% on Thursday. New Zealand's benchmark S&P/NZX 50 index rose 0.5%
in early trade. (Reporting by Shreya Mariam Job in Bengaluru; Editing by Sandra
Maler) 

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