SYDNEY, Dec 23 (Reuters) - Australian shares are set to open higher on Wednesday, tracking a rally on Wall Street after crude oil prices showed slight signs of recovery.
Rising prices of iron ore, Australia's top export earner, should also underpin natural resources stocks. Global miner BHP Billiton (L:BLT) BHP.AX is expected to open around 0.8 percent higher after a gain in its U.S. ADRs BHP.N .
The local share price index futures YAPcm1 gained 0.4 percent to 5,093.0, a 23.7-point discount to the underlying S&P/ASX 200 index .AXJO close on Tuesday.
The S&P/ASX 200 index .AXJO closed little changed in the last session.
New Zealand's benchmark NZX 50 index .NZ50 open steady in early trade and within reach of a record high touched earlier this month.
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