July 1, 2019 / 10:17 PM / 7 months ago

Australian shares poised to open higher on rate cut hopes; NZ up

    July 2 (Reuters) - Australian shares are expected to extend
their rally on Tuesday, tracking Wall Street's gains, while a
likely interest rate cut by the local central bank will bolster
risk appetite.
    The Reserve Bank of Australia is set to meet later in the
day for its monthly policy meeting where it is widely expected
to cut the benchmark cash rate by 25 basis points, bringing it
to a record low of 1.0%.
    The Aussie share price index futures          rose 0.3% or
21 points, a 40.1-point discount to the underlying S&P/ASX 200
index         close. The benchmark rose 0.4% on Monday.
    New Zealand's benchmark S&P/NZX 50 index         firmed 0.2%
in early trade.

 (Reporting by Anushka Trivedi in Bengaluru; Editing by Peter
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