January 30, 2019 / 9:32 PM / 6 months ago

Australia shares set to rise on strong mining gains; NZ up

    Jan 31 (Reuters) - Australian shares are poised to open
higher on Thursday, with miners likely to boost the index as
Chinese iron ore futures hit a near 17-month high after Brazil's
Vale SA said it would cut output.
    Iron ore prices continued to climb after Vale, the world's
largest iron ore miner, shut down more dams similar to the one
that burst on Friday, curtailing output.           
    The local share price index futures          rose 0.3
percent or 18 points at 2124 GMT, a 41.7-point discount to the
underlying S&P/ASX 200 index         close. The benchmark rose
0.2 percent on Wednesday.
    New Zealand's benchmark S&P/NZX 50 index         rose 0.4
percent or 39.01 points to 8,964.53 in early trade.

 (Reporting by Rashmi Ashok in Bengaluru
Editing by Bill Berkrot)
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