October 3, 2019 / 9:18 PM / 20 days ago

Australian shares to rise on U.S. rate-cut hopes, NZ up

    Oct 4 (Reuters) - Australian shares are expected to edge up
on Friday, rebounding slightly from two days of heavy losses, as
hopes of policy easing by the U.S. central bank gained momentum.
    Markets now anticipate the Federal Reserve will cut rates at
its October meeting, after a slew of weak data from the United
States this week showed its trade spat with China is hobbling
the world's biggest economy.     
    The local share price index futures          rose 0.5% or 35
points, a 5-point premium to the underlying S&P/ASX 200 index
        close. The benchmark dived 2.2% on Thursday to its
lowest close in over a month.
    New Zealand's benchmark S&P/NZX 50 index         rose 0.3%
in early trade.

 (Reporting by Anushka Trivedi in Bengaluru
Editing by Chris Reese)
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