May 10 (Reuters) - Australian shares are expected to open relatively flat on Wednesday despite a new tax levied on Australian banks in the federal budget released late on Tuesday.
Local share price futures YAPcm1 rose 0.33 percent overnight, or 19 points, to 5,845 - a 0.1 percent premium to the underlying S&P/ASX 200 index .AXJO .
The benchmark lost 0.5 percent in the previous session.
New Zealand's benchmark S&P/NZX 50 index .NZ50 was 1.37 points higher at 7,413.49 at 2209 GMT.
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