Australian shares are set to open higher on Monday, with domestic technology stocks expected to track gains on Wall Street, while miners are likely to extend losses on the back of weaker iron ore prices.

The local share price index futures rose 0.9%, a 24.3-point premium to the underlying S&P/ASX 200 index close. The benchmark fell 1.4% on Friday.

New Zealand's benchmark S&P/NZX 50 index fell 0.3% in early trading.