June 16, 2020 / 10:09 PM / 23 days ago

Australia shares set to open higher, NZ rises

    By Soumyajit Saha
    June 17 (Reuters) - Australian shares are set to open higher
after a record jump in U.S. retail sales buoyed Wall Street
overnight, and as the domestic central bank pointed to a
shallower-than-expected economic downturn due to the coronavirus
pandemic.
    All three major U.S. stock indexes ended higher as risk
sentiment received a boost from data that showed retail sales
jump by a record 17.7% in May.     
    The Reserve Bank of Australia on Tuesday said the economic
downturn due to the coronavirus epidemic is possibly shallower
than earlier expected.             
    The local share price index futures          rose 0.5%, a
31.7-point premium to the underlying S&P/ASX 200 index        
close. The benchmark rose 3.9% on Tuesday.
    In New Zealand, the benchmark S&P/NZX 50 index         rose
0.83% to 10,953.9 in early trade.

 (Reporting by Soumyajit Saha in Bengaluru; Editing by Sandra
Maler)
  
 
 
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