August 21, 2017 / 10:46 PM / a year ago

Australia shares expected to inch up; NZ flat

    Aug 22 (Reuters) - Australian shares are expected to edge
higher on Tuesday, supported by material stocks, while investors
will be cautious ahead of a Federal Reserve meeting later this
week which may give further direction on where U.S. monetary
policy is headed.
    China's iron ore futures rose for a third day on Monday,
while zinc prices climbed to their highest in nearly a decade as
expectations of a large market deficit this year fuelled
speculative buying.                        
    The local share price index futures          rose 0.1
percent or four points to 5684, a 41.9-point discount to the
underlying S&P/ASX 200 index         close. The benchmark fell
0.4 percent on Monday.
    New Zealand's benchmark S&P/NZX 50 index         rose 0.01
percent or 0.69 points to 7868.47 at 22.34 GMT.

 (Reporting by Chris Thomas in Bengaluru; Editing by Tom Brown)
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