SYDNEY, March 11 (Reuters) - New Zealand stocks eased on Friday, while their Australian counterparts are set for a cautious start as investors wait for the dust to settle after a volatile session in global markets overnight.
Risk assets rallied at first after the European Central Bank unleashed a bold easing package, but turned tail as markets latched onto the possibility that the latest cuts could be the last. President Mario Draghi said he did not anticipate that further easing would be needed, but was quick to add that "new facts can change the situation".
New Zealand's benchmark S&P/NZX 50 index .NZ50 eased 0.31 percent, or 20.23 points, to 6,488.05 in early trade, retreating from an all-time peak of 6,513.62 scaled on Thursday.
Pointing to a flat start for Australia, share price index futures YAPcm1 dipped 0.1 percent to 5,152.0, a 1.9-point premium to the underlying S&P/ASX 200 index .AXJO . The benchmark slipped 0.14 percent on Thursday.
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