Australian shares are likely to edge up on Thursday, with energy stocks expected to advance following an uptick in oil prices, and after Wall Street closed higher overnight as concerns of runaway inflation subsided.

The local share price index futures rose 0.04%, a 12.9-point discount to the underlying S&P/ASX 200 index close.

The benchmark snapped a four-day winning streak and closed 0.1% lower on Wednesday.

New Zealand's benchmark S&P/NZX 50 index fell 1.2% to 12,204.24 in early trade.