June 3, 2019 / 10:39 PM / 3 months ago

Australia shares set to open higher as RBA expected to cut rates; NZ down

    June 4 (Reuters) - Australian shares are expected to open
higher on Tuesday, as investors expect the Reserve Bank of
Australia (RBA) to cut interest rates for the first time in
almost three years at its June policy meeting.
     A Reuters poll shows that economists overwhelmingly expect
the Reserve Bank of Australia to cut its cash rate to a record
low of 1.25%, with a follow-up move likely in August, as the
central bank looks to revive growth and inflation.             
    The local share price index futures          rose 0.3% or 18
points to 6,332 at 2224 GMT, a 11.5-point premium to the
underlying S&P/ASX 200 index         close. The benchmark ended
over 1% lower on Monday.
    New Zealand's benchmark S&P/NZX 50 index         fell 1.1%
in early trade. Markets in New Zealand were closed on Monday for
a public holiday.
    

 (Reporting by Mensholong Lepcha in Bengaluru
Editing by Matthew Lewis)
  
 
 
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