Sept 1 (Reuters) - Australian shares are set to extend losses on Thursday, as a slump in crude prices overnight could batter energy stocks, while retail sales data, due later in the day, may determine the course of consumer staples.
Oil prices fell 3 percent or more on Wednesday after a surprise surge in U.S. crude and distillate inventory. O/R
Investors will be watching out for Australia's July retail sales numbers, expected to be announced on Thursday, for cues on economic growth. ECONASIA
Meanwhile, fears of an imminent interest rate hike in the United States have mounted after upbeat private payrolls data signaled that the U.S. economy was regaining strength. local share price index futures YAPcm1 fell 0.4 percent, a 42-point discount to the underlying S&P/ASX 200 index .AXJO close. The benchmark closed at its lowest in more than six weeks on Wednesday.
New Zealand's benchmark S&P/NZX 50 index .NZ50 fell 0.2 percent at 22:21 GMT.
For a summary of overnight action across global markets, double click on AU/CALL
For a digest of the day's business stories in Australian newspapers, double click on PRESS/AUB
For more information on DIARIES & DATA: U.S. earnings diary RESF/US
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