(Reuters) - Australian shares are expected to edge up on Wednesday, tracking overnight gains on Wall Street as technology stocks bounced back and investors positioned for an expected Federal Reserve interest rate hike.
The U.S. central bank is widely expected to raise its benchmark interest rate on Wednesday and may also provide details on its plans to shrink $4.5 trillion of assets it amassed to nurse the economic recovery.
The local share price index futures <YAPcm1> rose 0.121 percent or 7 points to 5789, a 16.2-point premium to the underlying S&P/ASX 200 index <.AXJO> close. The benchmark finished up 1.7 percent on Tuesday.
New Zealand's benchmark S&P/NZX 50 index <.NZ50> inched up 0.1 percent in early trade.
(Reporting by Christina Martin in Bengaluru; Editing by Chris Reese)
