SYDNEY, July 10 (Reuters) - Australian shares are likely to see another volatile day of trading as investors wait to see whether China can halt a savage equity selloff and Greece can strike a fresh bailout deal with Europe.
China domestic stocks bounced 6 percent on Thursday after a series of measures by Beijing aimed at curtailing selling added support, but the key markets are still down a third from two weeks ago. ID:nL1N0ZP1UI
Meanwhile, Greece raised new hopes that it can avert bankruptcy, sending a fresh bailout proposal to Europe. ID:nL8N0ZP12R
Resources stocks could get a boost after the iron ore price .IO62-CNI=SI rebounded about 10 percent overnight, although it remains at half its level of a year ago.
The Australian share price index futures YAPcm1 was down 21 points at 5387, an 84-point discount to the underlying S&P/ASX 200 index .AXJO close. On Thursday, the benchmark dropped as much as 2 percent before closing up 1.5 points at 5,471.
New Zealand's benchmark NZX 50 index .NZ50 rose 15.5 points or 0.3 percent to 5752.9 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