November 12, 2017 / 9:27 PM / a year ago

Australia shares set to open flat; NZ up

    Nov 13 (Reuters) - Australian shares are set to open flat on
Monday, following Wall Street's decline on Friday as investors
worried about the future of promised corporate tax cuts.     
    Losses are likely to be offset by material stocks, that are
set to gain from base metal prices, though Chinese iron ore
futures drifted down for a third day in a row on Friday.        
    The local share price index futures          was down 0.02
percent, or 1 point at 6,031, a 1.6-point premium to the
underlying S&P/ASX 200 index         close. The benchmark fell
0.3 percent on Friday. 
    New Zealand's benchmark S&P/NZX 50 index         rose 0.1
percent in early trade.

 (Reporting by Nicole Pinto in Bengaluru; Editing by Susan
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