Aug 25 (Reuters) - Australian shares were set to open higher on Tuesday as optimism over potential medical advances to combat the coronavirus pandemic pushed the S&P 500 and the Nasdaq to record closing highs overnight.
The local share price index futures YAPcm1 rose 0.64%, a 2.4-point premium to the underlying S&P/ASX 200 index .AXJO close. The benchmark rose 0.3% on Monday, snapping two straight sessions of losses.
New Zealand's benchmark S&P/NZX 50 index .NZ50 edged 0.2% higher in early trade.