Australia shares set to open higher, NZ up

By Reuters News

Oct 5 (Reuters) - Australian shares were poised to open higher on Monday, with stronger underlying metal prices expected to boost commodity stocks, while investors weighed the risk of further tightening after the central bank raised interest rates to a 15-year high last week.

The local share price index futures rose 0.3%, a 63.9-point premium to the underlying S&P/ASX 200 index .AXJO close. The benchmark ended 0.2% higher last week.

New Zealand's benchmark S&P/NZX 50 index .NZ50 rose by 0.3% to 13,715.18 points at 2125 GMT.

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