17:34 ET - Australia's benchmark ASX 200 index looks set to rise further above the psychologically key 5000 mark in early trading, after US stocks joined gains globally following a rise in commodity prices. IG forecasts the index will gain 0.3% when it opens, after it rose 1% Monday to 5001.2. "Iron ore has become a flash point for the changing risk story in the ASX," IG says, adding the strong gain this year by the steelmaking commodity has helped buoy mining shares. BHP Billiton (BHP.AU) is in the spotlight after slashing its dividend and shifting its payout policy after posting a loss. Also turning in earnings reports early in the day, are QBE Insurance (QBE.AU) and Qantas Airways (QAN.AU), among a host of other companies. (robb.stewart@wsj.com; @RobbMStewart)

(END) Dow Jones Newswires

February 22, 2016 17:49 ET (22:49 GMT)

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