Australian shares are set to open higher on Wednesday following a strong close on Wall Street after retail sales data signaled solid consumer health, with gains likely to be capped by resource-related stocks on weaker commodity prices.

The local share price index futures added 0.3%, a 7.6-point premium to the underlying S&P/ASX 200 index close. The benchmark fell 0.7% on Tuesday.

New Zealand's benchmark S&P/NZX 50 index was largely unchanged at 0.03% down to 12,898.90 points in early trade.