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Australia, NZ: Australia shares face cautious opening, NZ climbs

Tuesday, March 1, 2016 - 08:45

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[MELBOURNE] Australian shares are set to open a touch lower on Tuesday, but mining stocks should help limit losses, buoyed by China's move to boost growth and expectations of no near term US rate rises. New Zealand shares rose in early trade.

Local share price index futures pointed to a slightly weaker opening, slipping 0.2 per cent to 4,862.0, an 18.9-point discount to the underlying S&P/ASX 200 index close. The benchmark was flat on Monday.

New Zealand's benchmark S&P/NZX 50 index rose 0.4 per cent to 6,252.55 in early trade, with A2 Milk leading the way, up 4 per cent.

Australia's Reserve Bank is expected to leave the cash rate at a record low 2 per cent on Tuesday but maintain the option to ease later if necessary.

REUTERS

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