Jan 30 (Reuters) - Australian shares are set to edge higher on Wednesday after a drop in the previous session, with mining stocks likely to underpin gains as iron ore and copper prices remained firm.
China's iron ore futures extended gains on Tuesday, hovering near a 16-month high after a deadly mining disaster in Brazil sparked concerns about a disruption to supply. IRONORE/
The local share price index futures YAPcm1 rose 0.4 percent or 23 points at 2101 GMT, a 34.2-point discount to the underlying S&P/ASX 200 index .AXJO close. The benchmark fell about 0.5 percent on Tuesday.
New Zealand's benchmark S&P/NZX 50 index .NZ50 fell 0.2 percent or 20.73 points to 8,985.65 in early trade.