July 4, 2017 / 10:14 PM / 6 months ago

Australia shares expected to be rangebound; NZ flat

    July 5 (Reuters) - Australian shares are seen trading in a
narrow range on Wednesday as the market is set for a correction
following the strong rally in the previous session.
    The benchmark was getting little help from broader U.S.
peers as Wall Street was closed for a national holiday.
    The local share price index futures          rose 0.105
percent, or 6 points, to 5,738, a 45.8-point discount to the
underlying S&P/ASX 200 index         close. The benchmark
climbed 1.8 percent, its highest percentage gain since November,
on Tuesday.
    Oil prices shuffled sideways, while iron ore futures dropped
nearly 3 percent.                
    New Zealand's benchmark S&P/NZX 50 index         was flat in
early trade.

 (Reporting by Hanna Paul in Bengaluru; Editing by Peter Cooney)
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