Australia shares set to open higher; NZ muted

Australian shares are likely to open higher on Wednesday tracking a strong finish on Wall Street and supported by firm oil prices. U.S. stock indices, led by financial stocks, set a new closing high on Tuesday after fears over the impact of Hurricane Irma faded and easing tensions with North Korea boosted risk appetite. Oil prices climbed higher on Tuesday after OPEC forecast higher demand in 2018. The local share price index futures rose 0.4 percent, or 25 points, to 5,770, a 23.56-point premium to the underlying S&P/ASX 200 index close. The benchmark rose 0.6 percent on Tuesday. New Zealand's benchmark S&P/NZX 50 index was flat in early trade. (Reporting by Chandini Monnappa in Bengaluru)

2017-09-13 00:13:18 SAST

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