SYDNEY, Jan 20 (Reuters) - Australian shares are set to open lower on Wednesday, losing nearly half the gains achieved in the previous session.
The local share price index futures YAPcm1 eased 0.3 percent to 4,829.0, a 74-point discount to the underlying S&P/ASX 200 index .AXJO. The benchmark rose 0.74 percent on Tuesday, a day after hitting a 2-1/2 year closing low.
New Zealand's benchmark S&P/NZX 50 index .NZ50 was little changed in early trade.
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