Australia: Shares likely to open higher; New Zealand up

[BENGALURU] Australian shares are likely to open higher on Tuesday, taking cues from a recovery on Wall Street as investors remain hopeful of an eventual trade deal between China and the United States, while Australia's rate decision announcement later in the day could weigh on sentiment.

A slim majority of economists polled by Reuters expects the central bank to keep rates at a record low although calls for a rate cut have grown louder after disappointingly weak first-quarter inflation.

The local share price index futures rose 0.4 per cent, an 8.7-point discount to the underlying S&P/ASX 200 index close. The benchmark fell 0.8 per cent on Monday.

New Zealand's benchmark S&P/NZX 50 index rose 0.1 per cent in early trade.

REUTERS