Australian stocks poised to open higher

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THE Australian share market is set to open higher as US stocks hit record highs.

At 0645 AEDT on Wednesday, the local share price index was up 35 points, or 0.63 per cent, at 5,585.

On Wall Street, the Dow Jones Industrial Average was up 0.64 per cent, the S&P 500 rose 0.65 per cent and Nasdaq added more than one per cent. Asia closed mixed, with Japans Nikkei 225 gaining 0.50 per cent but the MSCI AC Asia Pacific index falling 0.29 per cent.

Londons benchmark FTSE 100 jumped 1.13 per cent while Germanys DAX added 0.84 per cent overnight.

In local news on Wednesday, the monthly Westpac-Melbourne Institute monthly consumer sentiment index survey will be released and paints and adhesives supplier DuluxGroup will hold its annual general meeting.

The Australian Bureau of Statistics is also set to release net motor vehicle sales for November.

In Australia, the market on Tuesday closed lower following heavy sell-offs among the miners and banks.

The benchmark S&P/ASX 200 index was down 0.32 per cent, while the broader All Ordinaries index was down 18.4 points, or 0.33 per cent, at 5,600.7 points.