Australian equities are poised to open higher on Monday after Wall Street rose Friday as US Federal Reserve Chair Jerome Powell eased investors' worries over economic uncertainties.
Powell commented on the macroeconomic environment saying that the US "continues to be in a good place" and the labor market is "solid," adding that the Fed will wait to see the effects of the Trump administration's decisions on trade, immigration, fiscal policy, and regulation.
The Nasdaq Composite gained 0.7%, the S&P 500 rose 0.6%, and the Dow Jones Industrial Average ended 0.5% higher.
In corporate news, Star Entertainment Group (ASX:SGR) will be removed from the ASX 200 index before the opening of trading on March 24 as a result of S&P Down Jones Indices' quarterly review.
Platinum Investment Management (ASX:PTM) reported total funds under management of AU$10.76 billion as of Feb. 28, down from AU$10.99 billion as of Jan. 31.
Australia's benchmark index fell 1.8% Friday to close at 7,948.20.
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