Australia shares set to open lower, NZ slips

Australia shares set to open lower, NZ slips

Aug 23 (Reuters) - Australian shares are expected to open lower on Tuesday, taking cues from a decline on Wall Street overnight coupled with a likely fall in miners on weak underlying prices, while fears of global rate hikes and a recession kept risk appetite at bay.

The local share price index futures YAPcm1 fell 0.6%, a 136.9-point discount to the underlying S&P/ASX 200 index .AXJO close. The benchmark closed 1% lower on Monday.

In New Zealand, the benchmark S&P/NZX 50 index .NZ50 fell 0.5% to 11708.2 by 2221 GMT.
Reporting by Roushni Nair in Bengaluru Editing by Chris Reese