September 19, 2017 / 10:18 PM / 2 years ago

Australia shares set to open higher; New Zealand up

    By Aditya Soni
    Sept 20 (Reuters) - Australian shares are likely to open
higher on Wednesday, following gains on Wall Street helped
largely by financials, as investors look ahead to the
culmination of the U.S. Federal Reserve's two-day policy
     The Fed on Wednesday is expected to announce the beginning
of a plan to reduce its $4.5-trillion portfolio of assets, and
while the U.S. central bank is likely to keep interest rates
unchanged, investors will be on the lookout for clues regarding
a possible rate rise in December.     
    The local share price index futures          rose 0.23
percent, or 13 points, to 5727, a 13.4-point premium to the
underlying S&P/ASX 200 index         close. The benchmark fell
0.1 percent on Tuesday.
    New Zealand's benchmark S&P/NZX 50 index         rose 0.07
percent to 7770.310 by 2205 GMT.

 (Reporting by Aditya Soni in Bengaluru; Editing by Leslie
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