Australian shares are set to open lower Monday as investors anticipate another day of steep losses in the aftermath of new US tariff policy, with China firing back with its retaliatory levies.
On the macrodata front, the ANZ-Indeed Job Ads for March is due at 10:30 am Sydney time.
On April 4, China slapped the US with retaliatory tariffs of 34% in response to the latter's reciprocal levies, effectively escalating the global trade war.
US equities extended their sell-off last Friday, with the S&P 500 tumbling 6%, while the Dow Jones Industrial Average lost 5.5%. The tech-heavy Nasdaq Composite ended the day in the bear territory after it plummeted 5.8%.
In corporate news, ARB (ASX:ARB) said it does not expect any material impact from the recently announced US tariffs on its fiscal 2025 results, according to an April 4 filing with the Australian bourse.
Elsewhere, Star Entertainment Group (ASX:SGR) asked American gambling company Bally's to raise its proposed AU$250 million funding package after separate rescue talks with other creditors had failed, according to a report by the Australian Financial Review on April 4, citing three unnamed sources familiar with the matter.
Australia's benchmark index plunged 2.4%, or 191.90 points, to close at 7,667.80 on Friday.
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