April 19 (Reuters) - Australian shares are poised to fall on Wednesday as commodity prices tumble amid geopolitical issues and oversupply worries.
Copper, lead and zinc hit three-month lows as geopolitical tensions hurt investor appetite for base metals while iron ore fell to its weakest since January on worries of oversupply. MET/L IRONORE/
Oil prices fell, with U.S. crude prices down over a percent in post settlement trade after the American Petroleum Institute (API) indicated crude stockpiles fell less than analysts had forecast, in its weekly data. O/R
Sentiment is also expected to be affected by Wall Street, which fell overnight on poor quarterly results of blue chips like Goldman Sachs Group (NYSE:GS) GS.N and Johnson & Johnson (NYSE:JNJ) JNJ.N .
The local share price index futures YAPcm1 fell by 38 points, or 0.7 percent, to 5790, a 46.7-point discount to the underlying S&P/ASX 200 index .AXJO close. The benchmark fell 0.9 percent on Tuesday.
New Zealand's benchmark S&P/NZX 50 index .NZ50 fell 0.2 percent, or 11.08 points, to 7222.53 in early trade.
<^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ For a summary of overnight action across global markets, click on
AU/CALL For a digest of the day's business stories in Australian newspapers, click on
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