SYDNEY, July 28 (Reuters) - Australian shares looked set for a cautious start after Wall Street ended flat and commodity prices had a mixed session, though month-end demand could offer support.
The local share price index futures YAPcm1 rose 0.2 percent to 5,511. The underlying S&P/ASX 200 index .AXJO had nudged up a bare 0.04 percent on Wednesday to 5,539.7, though that was its highest finish since August, 2015.
While iron ore prices gained 1 percent overnight, oil and base metals took a hit. Wall Street ended fractionally lower after the Federal Reserve held interest rates steady but left open the door to an increase later this year. .N
New Zealand's benchmark S&P/NZX 50 index .NZ50 dipped 0.04 percent in early trade.
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