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Australian stocks look set to rise after a rebound in most markets after China’s stimulatory measures calmed fears about the impact of the coronavirus on its economy.

The SPI200 futures contract was up 43 points, or 0.62 per cent, at 6,831 at 0800 AEDT on Wednesday.

US and European stocks rallied overnight and the benchmark S&P500 climbed back above the 3300 mark.

The Australian benchmark S&P/ASX200 index finished Tuesday up 25.4 points, or 0.37 per cent, at 6,948.7, while the broader All Ordinaries index gained 27.7 points, or 0.39 per cent, to 7,047.6.

In local news, the market will be looking to hear what Reserve Bank Governor Philip Lowe will say in a speech about the year ahead in Sydney on Wednesday.

The Australian dollar was buying 67.38 US cents at 0800, up from 67.18 US cents on Tuesday.