Australia shares likely to rise ahead of GDP data

Australian shares were set to rise at the open on Wednesday, as investors remained upbeat on recovery hopes ahead of the country's fourth-quarter gross domestic product (GDP) data, which is expected to have further improved.

The local share price index futures rose 0.3%, a 17.3-point discount to the underlying S&P/ASX 200 index close.

The benchmark finished 0.4% lower on Tuesday.

New Zealand's benchmark S&P/NZX 50 index rose 0.3% by 2120 GMT.