Australia shares set to rebound and open higher, NZ gains

Aug 7 (Reuters) - Australian shares are set to open higher on Wednesday, tracking a recovery on Wall Street after a sharp sell-off in the previous session, as China's efforts to stabilize the yuan alleviated fears of a possible currency war between the world's two largest economies. The local share price index futures YAPcm1 rose 0.74% to 6,437 by 2030 GMT, a 41.1-point discount to the underlying S&P/ASX 200 index close. The benchmark ended down 2.4% on Tuesday. New Zealand's benchmark S&P/NZX 50 index rose by 0.5% to 10,638.37 in early trade. (Reporting by Syed Saif Hussain Naqvi in Bengaluru; Editing by Sandra Maler)

2019-08-07 00:30:38

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