Aust stocks set to open higher

Local market expected to lift in early trade on the back of strong Wall St gains.

The Australian stock market looks set to open higher after Wall Street again made marked gains on strong Chinese economic data and greater confidence the US may not launch a strike on Syria.

At 0645 AEST, the September share price index futures contract was up 29 points at 5,235.

In economic news on Wednesday, the Australian Bureau of Statistics (ABS) releases lending finance data for July, while the Westpac/Melbourne Institute Survey of Consumer Sentiment is also due out.

No major equities news is expected.

In Australia, the market on Tuesday approached its highest point for the year as investor confidence is boosted by a decisive federal election result and encouraging Chinese economic data.

The benchmark S&P/ASX200 index gained 19.7 points, or 0.38%, to 5,201.2 points.

The broader All Ordinaries index added 19.5 points, or 0.38%, to 5,198.9 points.