Australian shares set to rebound at open, NZ rises

June 16 (Reuters) – Australian shares are likely to edge higher on Thursday, tracking gains on Wall Street after the U.S. Federal Reserve, which hiked interest rates by 75 basis points, said the pace of policy tightening in the future would be more moderate.

The local share price index futures YAPcm1 rose 0.2%, a 21-point premium to the underlying S&P/ASX 200 index .AXJO close. The benchmark fell 1.3% on Wednesday.

New Zealand’s benchmark S&P/NZX 50 index .NZ50 rose 0.2% to 10,658.71 points in early trade.

(Reporting by Tejaswi Marthi in Bengaluru
Editing by Chris Reese)

((Tejaswi.marthi@thomsonreuters.com))

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