Aug 12 (Reuters) - Australian shares were set to inch higher on Wednesday as COVID-19 infections in the country's second-most populous state showed signs of stabilizing, though uncertainty on progress for more U.S. fiscal stimulus could cap gains.
The local share price index futures YAPcm1 advanced 0.148%, a 35.7-point discount to the underlying S&P/ASX 200 index .AXJO close. The benchmark rose 0.47% on Tuesday.
As of 2204 GMT, New Zealand's benchmark S&P/NZX 50 index .NZ50 fell 0.33%, ahead of a central bank meeting later in the day where it is widely expected to hold rates at a record low of 0.25%.