June 14 (Reuters) - Australian shares are expected to edge up on Wednesday, tracking overnight gains on Wall Street as technology stocks bounced back and investors positioned for an expected Federal Reserve interest rate hike.
The U.S. central bank is widely expected to raise its benchmark interest rate on Wednesday and may also provide details on its plans to shrink $4.5 trillion of assets it amassed to nurse the economic recovery. local share price index futures YAPcm1 rose 0.121 percent or 7 points to 5789, a 16.2-point premium to the underlying S&P/ASX 200 index .AXJO close. The benchmark finished up 1.7 percent on Tuesday.
New Zealand's benchmark S&P/NZX 50 index .NZ50 inched up 0.1 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