August 6, 2019 / 10:33 PM / 3 months ago

Australia shares set to rebound and open higher, NZ gains

    Aug 7 (Reuters) - Australian shares are set to open higher
on Wednesday, tracking a recovery on Wall Street after a sharp
sell-off in the previous session, as China's efforts to
stabilize the yuan alleviated fears of a possible currency war
between the world's two largest economies.
    The local share price index futures YAPcm1 rose 0.74% to
6,437 by 2030 GMT, a 41.1-point discount to the underlying
S&P/ASX 200 index         close. The benchmark ended down 2.4%
on Tuesday.
    New Zealand's benchmark S&P/NZX 50 index         rose by
0.5% to 10,638.37 in early trade.

 (Reporting by Syed Saif Hussain Naqvi in Bengaluru; Editing by
Sandra Maler)
  
 
 
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