May 7, 2018 / 10:20 PM / a year ago

Australia shares set to rise, budget in focus; NZ flat

    May 8 (Reuters) - Australian shares were poised to open
higher on Tuesday buoyed by a solid performance on Wall Street,
while commodity-related stocks were expected to be supported by
higher metal prices.
    However, all eyes will be on the country's federal budget,
due to be released later in the day.
    Australia's centre-right government is expected to deliver
tax cuts to lower-income earners and boost infrastructure
spending in its federal budget.             
    The local share price index futures          rose 0.33
percent or 20 points to 6,084, a 0.5-point discount to the
underlying S&P/ASX 200 index         close. The benchmark rose
0.4 percent on Monday.
    New Zealand's benchmark S&P/NZX 50 index         rose 0.07
pct in early trade.

 (Reporting by Shanima A in Bengaluru; 
Editing by Sandra Maler)
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