Australian shares are slated to open lower Thursday following losses on Wall Street amid fears over rising US debt.
In macroeconomic news, the S&P Global Composite Purchasing Managers' Index is slated for release at 9 am Sydney time.
Wall Street fell overnight, with the Dow Jones Industrial Average down 1.9% and the S&P 500 and the Nasdaq Composite losing 1.6% and 1.4%, respectively.
Fears mount over the Trump administration's proposed tax-cut bill and how it would impact the US' federal deficits. The House was scrambling to reach a vote on Wednesday amid disagreements over certain issues, including the scale of the tax cut and Medicaid reductions.
In domestic news, Australia will establish a critical minerals strategic reserve and form a public-private task force to finalize its design, Resources Minister Madeleine King said in a Wednesday statement.
In corporate news, AFT Pharmaceuticals (NZX:AFT, ASX:AFP) reported Thursday fiscal 2025 diluted earnings of NZ$0.11 per share, compared with NZ$0.15 per share in the year-earlier period.
Australia's benchmark index gained 0.5%, or 43.50 points, to close at 8,386.80 on Wednesday.
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