Australian shares are likely to open higher on Thursday, tracking Wall Street, after China's decision to exempt some US goods from tariffs boosted market sentiment.

China exempted some US anti-cancer drugs and other goods from its tariffs ahead of trade talks slated for early October.

The local share price index futures rose 0.39pc, a 25-point premium to the underlying S&P/ASX 200 index close.

The benchmark rose 0.4pc on Wednesday.

New Zealand's benchmark S&P/NZX 50 index was flat in early trade.