Australian shares were seen edging higher on Thursday, tracking a solid rebound in US markets overnight, while a slip in commodity prices will likely cap gains on the benchmark.

The local share price index futures was up 0.4%, a 11-point premium to the underlying S&P/ASX 200 index close.

The benchmark ended 1% higher on Wednesday.

New Zealand’s benchmark S&P/NZX 50 index rose about 1% to 11,900.57 points in early trade.