SYDNEY: Australian shares are set to open slightly higher on Tuesday after Wall Street stocks rose, with investors awaiting Chinese manufacturing data for further indication of the growth outlook for the world's second-largest economy.
Local share price index futures rose 0.3 percent to 4,972.0, a 5.4-point premium to the underlying S&P/ASX 200 index close on Monday. The benchmark climbed 0.7 percent on Monday.
New Zealand's benchmark NZX 50 index was not updating in early trade due to technical issues.
US stocks climbed on Monday as last week's sharp losses brought buyers back to the market and shares of Microsoft jumped after an activist investor took a stake in the company.
Copper fell almost 1 percent on Monday, to trade close to 1-1/2 year lows amid disappointing global growth and higher supply prospects.
Spot iron ore prices may approach their lowest level for the year this week with Chinese mills in no rush to stock up on the steelmaking raw material given an uncertain outlook for steel demand in the world's top consumer.
The HSBC China flash Purchasing Managers' Index (PMI) for April is due out at 0145 GMT on Tuesday.
Gold miner Newcrest Mining Ltd will report its March quarter production on Tuesday.
<Center><b><i>Copyright Reuters, 2013</b></i><br></center>
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