Australian shares set to tick up on rate cut hopes; NZ down

    Nov 3 (Reuters) - Australian shares are expected to open
slightly higher on Tuesday as investors bet on the Reserve Bank
of Australia to cut its benchmark interest rate, while
uncertainty around the U.S. presidential election is likely to
keep gains in check.
    The Dow and S&P indexes closed higher overnight, as market
participants braced for choppy trade surrounding the U.S.
election. Democrat Joe Biden is ahead in national opinion polls,
but races are tight in battleground states that could tip the
election to President Donald Trump.             
    On the home front, the central bank is expected to trim its
cash rate to a new low and expand its quantitative easing
programme at a monthly policy meeting later in the day.
    The local share price index futures          ticked 0.1%
higher, an 11.3-point discount to the underlying S&P/ASX 200
index         close. On Monday, the benchmark rose 0.4%.
    Across the Tasman Sea, New Zealand's benchmark S&P/NZX 50
index         inched 0.1% lower in early trade. 

 (Reporting by A K Pranav in Bengaluru; Editing by Peter Cooney)