SYDNEY, July 22 (Reuters) - Australian shares are likely to have a weak start on Wednesday, tracking a Wall Street slide following disappointing earnings. Falling gold prices may also weigh on natural resources stocks.
Spot gold XAU= touched a five-year low this week with the market bracing for more losses on expectations of an U.S. interest rate hike and subdued demand for the metal from India. ID:nL1N1011U8
Local share price index futures .AXJO dipped 0.5 percent overnight, to sit at an 87.7-point discount to the close of the underlying S&P/ASX 200 index .AXJO on Tuesday. The benchmark rose 0.35 percent in the last session, having touched a six-week peak.
New Zealand's benchmark NZX 50 index .NZ50 was steady at 5,872.73 in early trade.
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