(Reuters) - Australian shares are expected to recover on Wednesday after the central bank struck an upbeat tone about the country's economy on Tuesday, outlining a steady path ahead even as global equities plunged.
The Reserve Bank of Australia's optimism was underpinned by solid economic data in recent weeks, topped by strong fourth-quarter retail sales figures which implied stronger household consumption.
The local share price index futures <YAPcm1> rose 98 points to 5,862, a 28.7-point premium to the underlying S&P/ASX 200 index <.AXJO> close. The benchmark plunged 3.2 percent on Tuesday.
New Zealand's benchmark S&P/NZX 50 index <.NZ50> fell 2 percent to a 2-1/2 month low, in early trade.
(Reporting by Ambar Warrick in Bengaluru; Editing by Hugh Lawson)
