Australian shares are set to rebound from a two-session fall on Thursday, helped by positive cues from Wall Street peers that rose on strong corporate results, while robust commodity prices are expected to further aid sentiment.

The local share price index futures pointed up 0.14%, a 97.5-point discount to the underlying S&P/ASX 200 index close.

The benchmark closed 1% lower on Wednesday.

Australian shares fall as Wall Street weakness batters tech stocks

New Zealand's benchmark S&P/NZX 50 index opened 0.05% lower at 12,606.52, deepening losses from a 1.6% drop in the previous session.