September 4, 2017 / 10:22 PM / 2 months ago

Australia shares set to edge up; NZ slightly down

    Sept 5 (Reuters) - Australia shares are likely to open
marginally higher on Tuesday, as investors await the Reserve
Bank of Australia policy meet later in the day, while material
stocks are expected to be up on gains in commodity prices.
    According to a Reuters poll of economists, Australia’s
central bank is expected to keep its cash rate at a record low
of 1.5 percent at its monthly policy meeting.             
    Among commodities, Chinese steel rebar futures jumped to
their highest in four and a half years, while nickel and copper
hit multi-year highs amid signs of strong Chinese growth.
                  
    The local share price index futures          rose 0.2
percent to 5,691, an 11-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         fell 0.09
percent in early trade.

 (Reporting by Sumeet Gaikwad in Bengaluru; Editing by James
Dalgleish)
  
 
 

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