SYDNEY, April 1 (Reuters) - New Zealand stocks got off to a subdued start on Friday after having notched up a string of record highs in the past month, while their Australian peers were seen taking a breather a day after their biggest rally in a month.
New Zealand's benchmark S&P/NZX 50 index .NZ50 edged up 0.02 percent, or 1.07 points, to 6,753.49 in early trade. The index hit an all-time high of 6,758.01 on Thursday and closed the first quarter up 6.8 percent.
Pointing to a soft start for Australia, stock index futures YAPcm1 eased 0.4 percent to 5,046.0, a 36.8-point discount to the underlying S&P/ASX 200 index .AXJO .
The benchmark ended 1.5 percent higher on Thursday, its sharpest one-day rally in a month. Yet it finished the quarter with a 4.0 percent loss.
New Zealand stocks have been supported by a surprise rate cut last month and expectations of more easing to come. In Australia, the official cash rate has been steady for nearly a year and the outlook is for no change this year.
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