November 28, 2017 / 9:19 PM / a year ago

Australia shares to open higher; NZ up

    Nov 29 (Reuters) - Australian shares are expected to open
higher on Wednesday, taking their lead from a firmer finish on
Wall Street, though the gains might be capped by a weakness in
materials stocks.
    U.S. stocks surged to record closing highs on Tuesday, led
by bank stocks and boosted by progress on a tax cut bill, strong
consumer confidence data and encouraging comments from President
Donald Trump's nominee to lead the Federal Reserve.     
    The local share price index futures          rose 0.7
percent or 40 points to 6,029, a 44.7-point premium to the
underlying S&P/ASX 200 index         close. The benchmark fell
0.075 percent on Tuesday. 
    On the other hand, Chinese iron ore futures pulled back on
Tuesday after eight days of gains, while nickel prices dropped
to their lowest level in more than six weeks                   .
    Investor sentiment might also be affected by North Korea's
latest missile launch, which landed close to Japan on Wednesday
    New Zealand's benchmark S&P/NZX 50 index         rose 0.1
percent or 8.950 points to 8,150.440 in early trade.

 (Reporting by Aditya Soni in Bengaluru; editing by Larry King)
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