Australian shares are expected to fall on Tuesday, tracking losses from Wall Street overnight, with markets set to close early on the last trading day of the year.
The S&P/ASX 200 has gained 8.5% over the past year to cross the 8,000 mark.
With no major macroeconomic data and few corporate reports on the calendar, investors are likely to track the decline from Wall Street. The S&P 500 lost 1.1%, the Dow Jones Industrial Average shed 1%, and the Nasdaq Composite fell 1.2% on Monday.
In corporate news, National Australia Bank (ASX:NAB) unveiled relief measures to provide financial assistance to its eligible customers hit by bushfires in Western Victoria.
Packaging company Amcor (ASX:AMC) completed the sale of its 50% interest in Bericap North America for $122 million.
Australia's benchmark index slipped 0.3%, or 26.80 points, to close at 8,235 on Monday.
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