June 30, 2019 / 10:10 PM / 3 months ago

Australian shares seen higher on U.S.-China trade talk breakthrough; NZ slips

    July 1 (Reuters) - Australian shares are expected to rise on
Monday, buoyed by the agreement between U.S. and China to
restart trade talks, while investors gear up for a possible rate
cut announcement by the Aussie central bank. 
    A Reuters poll shows that the Reserve Bank of Australia is
widely expected to cut its benchmark cash rate two more times
this year in an effort to boost growth and inflation. Most of
the economists surveyed forecast a rate cut to a record low of
1.00% at its monthly meeting on Tuesday.             
    The local share price index futures          rose 0.3% or 18
points, a 41.8-point discount to the underlying S&P/ASX 200
index         close. The benchmark slid 0.7% on Friday.
    New Zealand's benchmark S&P/NZX 50 index         fell 0.2%
in early trade.

 (Reporting by Anushka Trivedi in Bengaluru; 
Editing by Sandra Maler)
  
 
 
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