Australian shares are poised to rise on Thursday, following US President Donald Trump's statement on a completed trade framework with China, featuring upfront supply of rare earths and magnets, maintained tariffs, and continued US access for Chinese students, helping ease trade tensions.

Oil prices jumped more than 4% following the US announcement of a partial evacuation of its Iraqi embassy amid escalating regional security concerns.

Overnight, the S&P 500 and the Nasdaq Composite declined 0.3% and 0.5%, respectively, while the Dow Jones Industrial Average fell slightly by 1.1 points.

In the macroeconomy, the consumer inflation expectations report is due at 11 am Sydney time.

In corporate news, Mirvac Group (ASX:MGR) is considering a bid to take over Lendlease's (ASX:LLC) AU$10 billion Australian prime property funds (APPF), according to a Wednesday report by The Australian.

Regional Express Holdings (ASX:REX) could return to trading on the Australian Securities Exchange and move its headquarters to Canberra under a revival bid by Renaissance Infrastructure, according to a Wednesday report by the Australian Financial Review, citing the investment firm.

Australia's benchmark index was little changed on Wednesday to close at 8,592.10.