Aug 25 (Reuters) - Australian shares were set to open higher on Tuesday as optimism over potential medical advances to combat the coronavirus pandemic pushed the S&P 500 and the Nasdaq to record closing highs overnight. The local share price index futures rose 0.64%, a 2.4-point premium to the underlying S&P/ASX 200 index close. The benchmark rose 0.3% on Monday, snapping two straight sessions of losses. New Zealand's benchmark S&P/NZX 50 index edged 0.2% higher in early trade. (Reporting by A K Pranav in Bengaluru; Editing by Sandra Maler)
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