Australian shares are poised to rise on Friday amid increased concerns about lofty valuations for US artificial intelligence firms.
Overnight, the Dow Jones Industrial Average and the S&P 500 rose 1.3% and 0.2%, respectively, while the Nasdaq Composite fell 0.3%.
In corporate news, Scentre Group (ASX:SCG) said its joint venture partner, Dexus Wholesale Shopping Centre Fund (DWSF), will buy a 25% stake in Westfield Chermside, a Brisbane shopping center owned and operated by the company.
Treasure Jim Chalmers backed the Foreign Investment Review Board's decision to not oppose Hanwha Group's proposal to raise its stake in Austal (ASX:ASB) to 19.9% from 9.9%.
Australia's benchmark index rose 0.2% or 12.6 points to close at 8,592 on Thursday.