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Australian shares set for quiet start to week

Australian shares are set for a subdued start to the week as investors remain cautious about renewed trade skirmishes between China and the US, and the Reserve Bank’s policy meeting.

ASX futures were trading down 12 points or 0.2 per cent to 6683 over the weekend.

The ASX is set to drop with the RBA rate decision ahead.

The ASX is set to drop with the RBA rate decision ahead.Credit:AFR

Local investors will also be shaking off a worrying result from Wall Street on Friday, which ended the last day of the trading week down. On Friday, the Dow fell 70.87 points, or 0.3 per cent, to 26,820.25. The S&P 500 slid 0.5 per cent to close at 2961.79

Wall Street was pulled lower after a report by news agency Bloomberg said the Trump administration was mulling restricting US investment in China and potentially delisting Chinese companies listed in the US – a move likely to be watched keenly by Australian institutional investors who have gained access to the Chinese market through regulated American stock exchanges.

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