Australia shares seen with cautious start, NZ stocks near record highs

SYDNEY, Dec 2 (Reuters) - Australian shares are set with a cautious start on Wednesday with falling iron ore prices likely to hit local resource stocks. Global miner BHP Billiton is expected to open around 0.8 percent lower, tracking a loss in its U.S. ADRs. Share price index futures YAPcm1 edged down 0.1 percent to 5,258, a 8.1-point discount to the close of the underlying S&P/ASX 200 index on Tuesday. The benchmark surged 1.9 percent in the last session. New Zealand's benchmark NZ