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Australasia, News

Australian shares set to rise on trade deal cheer, NZ rises

Jan 14 (Reuters) – Australian shares are set to open higher on Tuesday, tracking a stronger finish on Wall Street which hit record highs on optimism over the planned signing of a preliminary U.S.-China trade deal. The preliminary deal is seen as a breakthrough in relations between the world’s two largest economies after months of retaliatory tariffs that roiled global markets, disrupted supply chains and stoked worries about a global recession. The local share price index futures rose 0.5% to 6,873, a 30.7-point discount to the underlying S&P/ASX 200 index close. The benchmark ended down 0.4% on Monday. Across the Tasman Sea, New Zealand’s benchmark S&P/NZX 50 index rose 0.3% or 36.87 points to 11,580.54 by 2127 GMT. (Reporting by Shriya Ramakrishnan in Bengaluru Editing by Chris Reese)

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