Australia shares poised for a strong start; NZ jumps

Australian shares are poised to open higher on Friday, recovering from sharp losses in the previous session, as Wall Street rebounded on easing worries of a fallout from hedge funds selling long positions to cover shorts.

The local share price index futures rose 1.0%, a 9.3-point premium to the underlying S&P/ASX 200 index close.

The benchmark lost nearly 2% on Thursday, posting its worst session since September-end.

New Zealand's benchmark S&P/NZX 50 index rose 1.1% in early trade.