March 6 Australian shares were set to open
higher on Monday, with financials likely to follow a strong lead
by their peers on Wall Street after the U.S. Federal Reserve
signalled there could be an interest rate hike this month.
The local share price index futures were up 0.4
percent or 21 points. The benchmark S&P/ASX 200 index
fell 0.8 percent on Friday.
Banks benefit from rising interest rates and U.S. financial
stocks rose on Wall Street on Friday after Federal Reserve Chair
Janet Yellen indicated the Fed was set to raise rates at its
meeting on March 14-15 if employment and other economic data
U.S. listed shares of large-cap miners BHP Billiton
and Rio Tinto Ltd closed higher on Friday.
New Zealand's benchmark S&P/NZX 50 index was flat at
7164.14 in early trade.
Shares of markets operator NZX Ltd were down 0.9
percent after it reported a decline in total trades for cash
markets in February.
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(Reporting by Anusha Ravindranath in Bengaluru; Editing by