November 7, 2019 / 9:36 PM / a month ago

Australian shares poised to rise on trade optimism, NZ gains

    Nov 8 (Reuters) - Australian shares are expected to rise on
Friday, tracking a rally in global equities, after China and the
United States agreed to cancel tariffs in phases as part of the
first phase of a trade deal.
    No timetable was indicated, but a "phase one" deal is widely
expected to include a U.S. pledge to scrap tariffs scheduled for
Dec. 15 on about $156 billion worth of Chinese imports,
including cellphones, laptop computers and toys.             
    The local share price index futures          rose 0.2% to
6,715 by 2104 GMT, a 11.6-point discount to the underlying
S&P/ASX 200 index         close. The benchmark rose 1% on
    New Zealand's benchmark S&P/NZX 50 index         rose 0.3%
to 10,827.72 in early trade.

 (Reporting by Shriya Ramakrishnan in Bengaluru
Editing by Chris Reese)
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