Australia shares to open flat; NZ opens flat

July 18 (Reuters) – Australian shares are expected to open
flat on Tuesday as gains in materials stocks are seen offsetting
losses in the financial sector.
China’s steel rebar futures rose to their highest in more
than 3-1/2-years and copper prices hit 4-1/2-month highs, buoyed
by solid economic data.
Financials are expected to have a cautious start as
investors will be looking out for any updates from the
Australian Prudential Regulatory Authority (APRA) over banks’
capital requirements.
The local share price index futures fell 0.07
percent to 5,693, a 62.5-point discount to the underlying
S&P/ASX 200 index close. The benchmark fell 0.2 percent
on Monday.
New Zealand’s benchmark S&P/NZX 50 index was flat in
early trade.

(Reporting by Urvashi Goenka in Bengaluru)