March 28 (Reuters) - Australian shares were set to open lower on Wednesday, following a weak lead from Wall Street, though losses might be capped by gains in materials stocks.
All three major U.S. stock indexes declined on Tuesday, as concerns about regulation of social media and autonomous vehicles led to a sell-off in technology shares. .N
However, the losses were expected to be capped by gains in the materials stocks, likely to benefit from a strengthening in metals prices. IRONORE/ MET/L
The local share price index futures YAPcm1 fell about 1 percent or 60 points to 5,758, a 74.3-point discount to the underlying S&P/ASX 200 index .AXJO close. The benchmark added 0.7 percent on Tuesday.
New Zealand's benchmark S&P/NZX 50 index .NZ50 fell 0.6 percent or 47.4 points to 8,460.72 in early trade.