Australian shares are poised to fall on Thursday, tracking weaker global markets, as rising oil prices stoked concerns over persistent inflation and tighter monetary policy, while gold prices eased despite softer-than-expected US inflation data.

Overnight, the S&P 500 and the Dow Jones Industrial Average fell 0.3% and 0.9%, respectively, while the Nasdaq Composite gained 0.2%.

In the macroeconomy, Australia's seasonally adjusted S&P Global Manufacturing Purchasing Managers' Index fell to 49.6 from 52 in August, slipping below the 50-threshold separating expansion from contraction, according to a Thursday report by S&P Global.

Australia's international trade in goods and job vacancies reports are due at 11:30 am Sydney time.

In corporate news, Rio Tinto Group (ASX:RIO), the Tasmanian Government, and the Australian Government have reached an agreement to keep the Bell Bay Aluminum smelter operating in northern Tasmania until the end of 2031.

Transurban Group (ASX:TCL) agreed to acquire Canada Pension Plan Investment Board's stakes in NorthWestern Roads Group and Sydney Transport Partners for AU$4.5 billion in cash.

Australia's benchmark index rose 0.9%, or 80 points, to close at 8,789.30 on Wednesday.