November 28, 2018 / 9:14 PM / a year ago

Australia shares set to edge higher, New Zealand up

    Nov 29 (Reuters) - Australian shares are expected to rise on
Thursday, tracking a rally on Wall Street after Federal Reserve
Chairman Jerome Powell hinted at a slower pace of rate hikes,
while materials stocks are likely to gain on the back of robust
iron ore prices. 
    Powell on Wednesday said the policy rate was "just below"
neutral, easing worries of a faster pace of interest rate hikes
next year.     
    The share price index futures          rose 0.8 percent or
41 points to 5,766, a 40.9-point premium to the underlying
S&P/ASX 200 index         close. The benchmark closed down 0.06
percent on Wednesday. 
    New Zealand's benchmark S&P/NZX 50 index         rose 0.4 at
2104 GMT.

 (Reporting by Shanima A in Bengaluru, Editing by Alison
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