Dec 1 (Reuters) - Australian shares are set to open higher on Friday, taking cues from upbeat domestic economic news and a stronger finish on Wall Street.
Business investment in Australia hit its highest in more than a year last quarter while approvals to build homes climbed to the strongest in eight months, data on Thursday showed, in promising signs for a pick-up in broader economic activity. the S&P 500 hit a record closing high and the Dow broke above the 24,000 mark for the first time as investor bet that U.S. Republicans would pass a U.S. tax overhaul. .N
The local share price index futures YAPcm1 rose 0.4 percent or 21 points to 6,007, a 37.1-point premium to the underlying S&P/ASX 200 index .AXJO close. The benchmark fell 0.7 percent on Thursday.
New Zealand's benchmark S&P/NZX 50 index .NZ50 was flat in early trade.