Australian shares are set to open lower on Wednesday, following a relatively quiet session on Wall Street overnight as investors continue to await key tariff developments.
The Westpac Leading Index for March is due at 11 am Sydney time.
Overnight, the Dow Jones Industrial Average declined 0.4%, while the S&P 500 and the Nasdaq Composite were flat.
China ordered its airlines to pause any deliveries from American planemaker Boeing amid the country's trade war with the US, Bloomberg News reported Tuesday. With a potential truce still not in sight for the two nations, investors continue to await clarity on tariffs on electronics, which US President Donald Trump said would move to a different bucket.
In non-tariff news, Bank of America and Citigroup topped analysts' estimates in the first quarter.
In Australian corporate news, author Richard Flanagan and businessman Geoff Cousins alleged that the AU$497 million "sustainability-linked" loan extended by Commonwealth Bank (ASX:CBA), Westpac Banking (ASX:WBC, NZE:WBC), and Rabobank to Tassal salmon farm in August 2022 had a misleading description, according to a Tuesday report from the Australian Financial Review.
Elsewhere, Mindax (ASX:MDX) acquired a 5% stake in exploration company Cashmere Iron for AU$3 million, eyeing the potential of the Cashmere Downs Iron Project, according to a Tuesday filing with the Australian bourse.
Australia's benchmark index was little changed at 7,761.70 on Tuesday.
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