Australian shares are poised to open higher Tuesday, with investors all eyes on the Reserve Bank of Australia's (RBA) policy decision later in the day.
The RBA is widely expected to reduce the official cash rate by 25 basis points to 3.85%, marking its second rate cut this year. The decision is due 10:30 am Sydney time.
Wall Street was broadly quiet overnight as the S&P 500 and the Nasdaq Composite were flat at market close. The Dow Jones Industrial Average eked out a 0.3% gain.
In corporate news, Kiwi insurer Tower (ASX:TWR, NZE:TWR) reported Tuesday earnings of NZ$0.13 per diluted share for the fiscal first half, compared with NZ$0.094 per diluted share a year earlier.
Elsewhere, the Australian Competition and Consumer Commission is proposing to grant conditional approval to Energy Networks Australia, Synergy, and other parties to jointly procure and implement a national public key infrastructure service, according to a Monday statement by the regulator. APA Group (ASX:APA) is a member of Energy Networks Australia.
Australia's benchmark index fell 0.6%, or 48.60 points, to close at 8,295.10 on Monday.
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