Aug 16 (Reuters) - Australian shares are set to drop at the open on Thursday as escalating global trade tensions and tumbling commodity and oil prices turn investors risk-averse.
The local share price index futures YAPcm1 fell 0.8 percent, or 53 points, an 88-point discount to the underlying S&P/ASX 200 index .AXJO close. The benchmark rose half a percent on Wednesday.
New Zealand's benchmark S&P/NZX 50 index .NZ50 fell 0.2 percent in early trade.