Australian shares were expected to open higher on Thursday, extending gains to a fourth straight session and drawing close to an all-time high, on the back of higher metals prices and a rebound in global risk sentiment.

The local share price index futures rose 0.2%, a 15.8-point discount to the underlying S&P/ASX 200 index close. The benchmark advanced 0.4% on Wednesday.

Across the Tasman Sea, New Zealand's benchmark S&P/NZX 50 index fell 0.16% on Thursday.