SYDNEY: Australian shares look set to open higher on Tuesday, in line with US markets, which ticked up overnight, while strong commodity prices are expected to underpin the gains in the material sector.
The Dow Jones Industrial Average edged higher on Monday, pushed by a bounce back in industrials, while the technology-led gains in the S&P 500 and Nasdaq were kept in check by declines in healthcare stocks.
Meanwhile, Chinese iron ore futures shed early losses, and rallied more than 1 percent on Monday, as steel prices recovered after a three-day slide.
The local share price index futures rose 0.4 percent or 22 points, a 37.3-point premium to the underlying S&P/ASX 200 index close. The benchmark fell 0.2 percent on Monday.
New Zealand's benchmark S&P/NZX 50 index fell 0.1 percent or 5.980 points to 8,083.820 in early trade.
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