May 8 (Reuters) - Australian shares were poised to open higher on Tuesday buoyed by a solid performance on Wall Street, while commodity-related stocks were expected to be supported by higher metal prices.
However, all eyes will be on the country's federal budget, due to be released later in the day.
Australia's centre-right government is expected to deliver tax cuts to lower-income earners and boost infrastructure spending in its federal budget. local share price index futures YAPcm1 rose 0.33 percent or 20 points to 6,084, a 0.5-point discount to the underlying S&P/ASX 200 index .AXJO close. The benchmark rose 0.4 percent on Monday.
New Zealand's benchmark S&P/NZX 50 index .NZ50 rose 0.07 pct in early trade.