Australia shares set to trade sideways; NZ flat

SYDNEY: Australian shares are expected to open flat on Wednesday with gains in financial stocks set to be offset by weaker materials stocks.

Financial stocks are expected to mirror their Wall Street peers, while materials are set to fall on lower commodity prices.

The local share price index futures fell one point to 6017.0, a 3.8-point premium to the underlying S&P/ASX 200 index close. The benchmark rose 0.3 percent on Tuesday.

New Zealand's benchmark S&P/NZX 50 index fell 0.1 percent in early trade.