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Reuters
Reuters
Business

Australian shares set to gain on strong Wall St. lead, New Zealand rises

FILE PHOTO: An investor takes a photograph using his phone as he stands in front a board displaying stock prices at the Australian Securities Exchange (ASX) in Sydney, Australia, July 17, 2017. REUTERS/Steven Saphore

(Reuters) - Australian shares were set to strengthen on Wednesday, tracking Wall Street gains on robust U.S. corporate results and reports that a possible Brexit deal may be close.

However, weak China data could weigh on the country's export-reliant resource stocks.

The local share price index futures <YAPcm1> were 0.8% higher, a 31-point premium to the underlying S&P/ASX 200 index <.AXJO> close. The benchmark finished slightly higher on Tuesday.

New Zealand's benchmark S&P/NZX 50 index <.NZ50> rose 0.2%, or 25.66 points, in early trade.

(Reporting by Devika Syamnath in Bengaluru; Editing by Chris Reese)

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