Dec 13 (Reuters) - Australian shares looked set to edge lower on Tuesday, snapping five straight sessions of gains, with bank stocks likely to lose some momentum in line with U.S. financials, ahead of the Federal Reserve's year-end meeting.
Investors are widely expecting the Federal Reserve to hike rates at a two-day meeting, beginning on Tuesday, and their focus has switched to what tone Fed Chair Janet Yellen takes in her statement on Wednesday.
The local share price index futures YAPcm1 fell 0.4 percent, or 21 points, to 5,554, an 8.8-point discount to the underlying S&P/ASX 200 index .AXJO at its close. The benchmark ended 0.04 percent higher on Monday and has risen 3 percent in the five previous sessions.
New Zealand's benchmark S&P/NZX 50 index .NZ50 was flat with a positive bias 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