Australia shares likely to open flat, NZ gains

Australian shares are set to open flat on Wednesday as investors' caution over U.S. Federal Reserve Chair Jerome Powell's speech and China's manufacturing data for November offset possible gains by miners and energy stocks on higher commodity prices.

The local share price index futures (YAPcm1) edged down 0.01%, a 5.7 point premium to the underlying S&P/ASX 200 index XJO close. The benchmark ended 0.3% higher on Tuesday.

New Zealand's benchmark S&P/NZX 50 index NZ50G rose about 0.2% to 11,415.790 in early trade.