Australian shares are poised to open higher on Thursday as a rate hike by the US Federal Reserve is likely to help local banks, while a rebound in iron ore prices on renewed hopes for top metal consumer China’s stimulus will likely boost local miners.

The local share price index futures rose 1.5%, a 114.8-point premium to the underlying S&P/ASX 200 index close.

The benchmark closed 1.1% higher on Wednesday New Zealand’s benchmark S&P/NZX 50 index was up 0.7%to 11,956.79 points in early trade.