** Consumer staples .AXSJ rises as much as 1.1% to 12,372.2 points, highest since February 27
** Sub-index rises in tandem with benchmark .AXJO, which is up 1.4% to its highest since April 3
** Morningstar says Australian retailers offer shelter from U.S. tariffs
** But sees two indirect impacts - potential economic slowdown could tightening consumer spending, though not to a disastrous extent
** Oversupply of Chinese goods as online retailers may seek more share in Australia, weighing on near-term discretionary retailer profits
** Retail majors Woolworths WOW.AX rises 0.6% to A$31.75, Coles Group COL.AX gains as much as 0.9% to a record high of A$21.63
** AXSJ advances 5.1% YTD
(Reporting by Jasmeen Ara Shaikh in Bengaluru)
((JasmeenAraIslam.Shaikh@thomsonreuters.com;))
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