Australian shares are expected to rise slightly at the open, despite U.S. equities turning lower overnight as technology stocks weighed on the market.
ASX futures climbed 11 points, or 0.1%, to 8,309 as of 8 am AEDT (9 pm GMT).
On Wall Street, major benchmarks retreated, with the Dow and S&P 500 down 0.2% apiece, while the Nasdaq Composite fell 0.9%.
Leading the tech sector decline, Apple dropped 3.8%, and Tesla lost 4.3% as of 2:15 pm in New York.
Apple’s slump followed reports that it is continuing to lose smartphone market share in China to local competitors, including Vivo and Huawei.
Corporate activity was also in focus, with Bloomberg reporting that Rio Tinto and Glencore are engaged in talks to merge their businesses. A potential combination would surpass BHP to become the world's largest mining company.
Additionally, Lynas Rare Earths reported increased sales revenue following the November opening of its Kalgoorlie Facility. The company is set to provide further updates to investors later today.
On the bond markets, 10-year and 2-year rates were steady at 4.483% and 3.931%, respectively.
