July 8, 2020 / 10:31 PM / a month ago

Australia shares poised to open higher tracking Wall Street, NZ falls

    July 9 (Reuters) - Australian shares were set to clock firm
gains on Thursday, with a rally on Wall Street overnight likely
to help offset worries over Australia's second largest city
returning to a lockdown over a resurgence in coronavirus cases.
    Offering a positive lead, U.S stocks rose on Wednesday and
the Nasdaq hit a record closing high, supported by technology
shares as investors held on to hopes of an economic rebound on
the back of a raft of upbeat economic data in past weeks.     
    However, concerns over the virus will likely cap gains after
Melbourne went back into lockdown, forcing five million
Australians to stay home for all but essential business for the
next six weeks.             
    The local share price index futures          rose 0.8%, a
20.7-point premium to the underlying S&P/ASX 200 index        
close. The benchmark fell 1.5% on Wednesday in its worst session
in more than a week.
    New Zealand's benchmark S&P/NZX 50 index         fell 0.9%
to 11,599.28 points in early trade.
    
       

 (Reporting by Shruti Sonal in Bengaluru
Editing by Chris Reese)
  
 
 
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