SYDNEY, Dec 16 (Reuters) - Australian shares look set to break a six-session losing streak on Wednesday following a global rally in stocks and risk assets, while a bounce in oil prices provided some relief to energy companies.
The local share price index futures YAPcm1 rose 1.1 percent to 4957.0, a 48-point premium to the underlying S&P/ASX 200 index .AXJO close.
Any gains would be welcome after the index hit its lowest in two-and-a-half years on Tuesday, ending at4,909.5.
New Zealand's benchmark NZX 50 index .NZ50 rose 0.3 percent 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