May 8 (Reuters) - Australian shares are set to open lower on Wednesday, tracking losses on Wall Street, as deteriorating negotiations for a trade deal between the United States and China cause investors to pull back from risk assets.
Chinese Vice Premier Liu He will travel to Washington for two days of trade talks this week, China said on Tuesday, setting up a last-ditch bid for a deal that would avoid a sharp increase in tariffs on Chinese goods ordered by U.S. President Donald Trump. local share price index futures YAPcm1 fell 0.8 percent, a 62.7-point discount to the underlying S&P/ASX 200 index .AXJO close. The benchmark rose 0.2 percent on Tuesday.
New Zealand's benchmark S&P/NZX 50 index .NZ50 fell 0.5 percent in early trade.