Australian shares poised to inch up; NZ up

Australian shares were set to open higher on Thursday, likely propelled by mining and energy stocks, with improved expectations of an interest rate cut by the Federal Reserve in September after favourable U.S. inflation data boosted risk sentiment.

The local share price index futures (YAPcm1) rose 0.6%, an 88.3-point premium to the underlying S&P/ASX 200 index XJO close. The benchmark closed 0.4% higher on Wednesday.

New Zealand's benchmark S&P/NZX 50 index NZ50G inched 0.1% higher in early trade.