Australian shares are poised to open higher Wednesday following Wall Street's gains as a top US official signalled hopes for a de-escalation in Washington's trade war with Beijing.

The S&P Global Flash Composite PMI is slated for release at 9 am Sydney time.

Overnight, the Nasdaq Composite and the Dow Jones Industrial Average rose 2.7% each, while the S&P 500 finished 2.5% higher.

In a closed-door meeting on Tuesday, US Treasury Secretary Scott Bessent said the trade war with China will likely de-escalate in the "very near future" and that neither Washington nor Beijing "thinks the status quo is sustainable," CNBC reported, citing an anonymous person who was present at the gathering.

In corporate news, Santos (ASX:STO) received final environmental approval from Australia's offshore energy regulator for its AU$5.8 billion Barossa gas project, paving the way for first gas in the third quarter of the year, according to a Tuesday report by The Australian, citing the company.

Elsewhere, Telix Pharmaceuticals (ASX:TLX) reported an unaudited revenue of AU$186 million in the first quarter, up 62% year on year, according to a Tuesday filing.

Australia's benchmark index was little changed at 7,816.70 on Tuesday.