SYDNEY: Australian shares are set to open higher after a Wall Street rally on better business investment and housing data, and with China's central bank moving to calm fears of a credit crunch.
* Local share price index futures rose 0.6 percent to 4,670.0, a 14.0-point premium to the underlying S&P/ASX 200 index close. The benchmark fell 0.3 percent on Tuesday.
* New Zealand's benchmark NZX 50 index rose 0.7 percent to 4,346.7 in early trade.
* US stocks rose by the most in nearly two weeks on Tuesday after data showed business investment and the housing recovery continued apace, reassuring investors worried about the Federal Reserve's plans to reduce its massive monetary stimulus.
* Copper rose on Tuesday, recovering from a three-year low, after China's central bank sought to soothe fears that a bank liquidity crisis would crimp growth in the world's top metals consumer.
* China's central bank moved on Tuesday to further assure markets it would provide cash to institutions that need it following days of turmoil that pushed shares to their lowest level in more than four years on fears of a banking crisis.
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