Australian shares were poised to open higher on Wednesday as heavyweight mining stocks were expected to benefit from a rise in the price of iron ore late on Tuesday.

The local share price index futures was up 0.3%, a 84.7-point discount to the underlying S&P/ASX 200 index close.

The benchmark added 1.1% on Tuesday.

Australia shares likely to open lower, NZ inches down

New Zealand's benchmark S&P/NZX 50 index inched 0.1% higher in early trade.