October 30, 2019 / 9:08 PM / a month ago

Australia shares set to rise after Fed rate cut; NZ flat

    Oct 31 (Reuters) - Australian shares are set to open
marginally higher on Thursday, after the U.S. Federal Reserve
cut interest rates as expected but dashed hopes for further
reductions.
    The Fed dropped a previous reference in its statement to
"act as appropriate" to sustain the economic expansion, which
could signal the Fed may hold off on future rate cuts.
            
    The local share price index futures          rose 6 points
or 0.1%, a 13.5-point discount to the underlying S&P/ASX 200
index         close. The benchmark fell 0.8% on Wednesday,
snapping a seven-day winning streak.
    New Zealand's benchmark S&P/NZX 50 index         was little 
changed, up 0.1 points to 10,789.65 by 2104 GMT.

 (Reporting by Rashmi Ashok in Bengaluru; Editing by Sandra
Maler)
  
 
 
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