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Australia shares set to open lower; NZ down

    March 22 (Reuters) - Australian shares are expected to open
lower on Monday, tracking a subdued performance on Wall Street,
while shares of local insurers are likely to face pressure as
heavy rains over the weekend brought the worst flooding in half
a century in some areas of the country, damaging property.
    The local share price index futures          fell 0.2%, a
15-point discount to the underlying S&P/ASX 200 index        
close. The benchmark fell 0.6% on Friday.
    New Zealand's benchmark S&P/NZX 50 index         fell 0.2%
to 12,491.95 points in early trade.
    
       

 (Reporting by Aditya Munjuluru; Editing by Peter Cooney)
  
 
 
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