Australia stocks set to open little changed; oil prices surge

Australia's March retail sales data is set to be out around 9:30 a.m. HK/SIN on Wednesday.

Oil prices surged on Tuesday as they got a boost from optimism around ongoing production cuts and a recovery in demand as economies around the world reopen. Stocks in Australia were set to open little changed ahead of the country's release of retail sales data for March.last close at 5,407.10. On the economic data front, Australia's March retail sales data is set to be out around 9:30 a.m. HK/SIN on Wednesday.

Ahead of that release, National Australia Bank Economist Tapas Strickland wrote in a note that the data is "unlikely to be market moving" as the Australian Bureau of Statistics now publishes a flash measure of retail sales.Overnight stateside, stocks rose for a second day as investors bet on the U.S. economy reopening again. The

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