October 28, 2019 / 9:23 PM / 24 days ago

Australia shares set to gain on rising trade optimism; NZ gains

    Oct 29 (Reuters) - Australian shares are set to rise on
Tuesday, tracking robust gains on Wall Street fueled by rising
hopes the United States and China may strike a trade deal soon,
while expectations of a Federal Reserve rate cut later this week
also helped.
    The S&P 500 hit a record high and the Nasdaq fell just short
of a lifetime high on Monday after U.S. President Donald Trump
said he expected to sign a significant part of a trade deal with
China ahead of schedule.             
    The local share price index futures          rose 0.3%, a
0.3-point premium to the underlying S&P/ASX 200 index        
close. The benchmark ended little changed on Monday.
    New Zealand's benchmark S&P/NZX 50 index         rose 0.6%
or 61.20 points to 10,850.20 by 2104 GMT.

 (Reporting by Rashmi Ashok in Bengaluru; Editing by Peter
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