May 20, 2020 / 10:28 PM / 6 days ago

Australia shares poised to rise at open on hopes of economic recovery

    May 21 (Reuters) - Australian shares were set to rise at
open on Thursday on hopes of a speedy economic recovery from
coronavirus-induced lockdowns after Wall Street clocked solid
gains overnight, led by major tech stocks.
    Adding to the cheer in markets, minutes from a recent policy
meeting showed U.S. Federal Reserve policymakers reiterated
their pledge to keep interest rates at near-zero levels until
they were confident the economy was on track for a recovery.
            
    The local share price index futures          rose 0.7%, a
31-point premium to the underlying S&P/ASX 200 index        
close. The benchmark rose 0.24% on Wednesday.
    New Zealand's benchmark S&P/NZX 50 index         rose 0.3%
by 2217 GMT.
    
       

 (Reporting by Arpit Nayak in Bengaluru
Editing by Chris Reese)
  
 
 
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