Australian shares expected to open steady, NZ rises

July 11 (Reuters) – Australian shares are likely to open
flat on Tuesday after the Dow Jones ended little changed as
investors await Federal Reserve Chair Janet Yellen’s testimony
to the U.S. Congress.
Yellen’s semi-annual testimony will be the highlight this
week for investors looking for cues on further interest rate
hikes. She will testify on Wednesday and Thursday.
The local share price index futures was down 0.018
percent to 5,676.0.
The benchmark rose 0.4 percent to 5,724.4 on Monday.
New Zealand’s benchmark S&P/NZX 50 index rose 0.3
percent in early trade.

(Reporting by Chandini Monnappa in Bengaluru; Editing by James