Australia shares poised to rebound, NZ edges up in early trade

July 13 (Reuters) – Australian shares are poised to open
higher on Thursday, tracking stocks on Wall Street, which rose
after Federal Reserve Chair Janet Yellen said the U.S. central
bank will gradually tighten policy and unwind its massive
balance sheet.
Yellen’s dovish tone in her testimony to Congress boosted
market sentiment on Wednesday with the Dow Jones Industrials
closing at a fresh record high.
The local share price index futures rose 0.5
percent to 5,651, a 22.8 point discount to the underlying
S&P/ASX 200 index close.
The benchmark fell about 1 percent to close at 5,673.8 on
New Zealand’s benchmark S&P/NZX 50 index rose 0.2
percent in early trade.

(Reporting by Chandini Monnappa in Bengaluru)