Australia shares set to gain at open, NZ rises

© Reuters/Steven SaphoreAn investor is reflected in a window in front of a board displaying stock prices at the Australian Securities Exchange in Sydney, Australia

(Reuters) - Australian shares were set to open higher on Wednesday, with technology stocks expected to track a sharp bounce on Nasdaq overnight after a dip in U.S. bond yields.

The local share price index futures rose 0.3%, a 18-point premium to the underlying S&P/ASX 200 index close. The benchmark closed 0.5% higher on Tuesday.

New Zealand's benchmark S&P/NZX 50 index rose 0.6% to 12,216.59 by 2120 GMT.

(Reporting by Aditya Munjuluru; Editing by Chris Reese)