SYDNEY, Dec 2 (Reuters) - Australian shares are set with a cautious start on Wednesday with falling iron ore prices likely to hit local resource stocks.
Global miner BHP Billiton (L:BLT) BHP.AX is expected to open around 0.8 percent lower, tracking a loss in its U.S. ADRs BHP.N .
Share price index futures YAPcm1 edged down 0.1 percent to 5,258, a 8.1-point discount to the close of the underlying S&P/ASX 200 index .AXJO on Tuesday. The benchmark surged 1.9 percent in the last session.
New Zealand's benchmark NZX 50 index .NZ50 held near record highs in early trade.
For a summary of overnight action across global markets, double click on AU/CALL
For a digest of the day's business stories in Australian newspapers, double click on PRESS/AUB