November 7, 2018 / 9:19 PM / 7 days ago

Australia shares to open higher; NZ rises

    Nov 8 (Reuters) - Australian shares are set to open on a
strong note on Thursday, on the back of a Wall Street rally, as
investors took a positive view of U.S. midterm elections that
saw Democrats win control of the House of Representatives and
Republicans expand their Senate majority.
    While a divided Congress will make it harder for Trump's
Republican administration to push through new legislation such
as additional tax cuts, investors were not expecting a reversal
of tax cuts and deregulation measures that have already been
enacted.             
    The local share price index futures          rose 0.5
percent, a 5.9-point discount to the underlying S&P/ASX 200
index         close. The benchmark ended 0.4 percent higher on
Wednesday.
    New Zealand's benchmark S&P/NZX 50 index         rose 0.4
percent in early trade.
    
       

 (Reporting by Aby Jose Koilparambil in Bengaluru, Editing by
William Maclean)
  
 
 
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