May 21, 2018 / 10:11 PM / in 5 months

Australia shares set to gain tracking Wall Street, NZ rises

    May 22 (Reuters) - Australian shares are seen inching up on
Tuesday, following Wall Street which climbed as a truce between
the United States and China calmed fears of a potential trade
war, while Aussie miners are expected to be pressured by weak
iron ore prices.
     China's Dalian iron ore futures fell more than 3 percent on
Monday due to technical selling and growing concerns that steel
mills in the world's top producer may delay orders.           
        
    The local share price index futures          fell 0.21
percent or 13 points to 6,080, a 4.5-point discount to the
underlying S&P/ASX 200 index         close. The benchmark 
declined 0.05 percent on Monday.
    New Zealand's benchmark S&P/NZX 50 index         gained 0.19
percent at 2205 GMT.
    
       

 (Reporting by Shanima A in Bengaluru; Editing by Lisa Shumaker)
  
 
 
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