Jan 5 (Reuters) - Australian shares are expected to open higher on Thursday, tracking gains on Wall Street after it emerged U.S. policymakers were eyeing faster interest rate rises in response to U.S President-elect Donald Trump's fiscal stimulus plans.
The local share price index futures YAPcm1 edged up 0.5 percent to 5,724 points, a 12.4-point discount to the underlying S&P/ASX 200 index .AXJO close.
The benchmark rose 0.06 percent on Wednesday, extending the previous session's gains, to hit its highest close since May 29, 2015.
New Zealand's benchmark S&P/NZX 50 index .NZ50 is steady in early trade.
Almost all U.S. Federal Reserve policymakers thought the U.S. economy could grow more quickly because of fiscal stimulus under the Trump administration and many were eyeing faster interest rate increases, minutes from the central bank's December meeting showed. a summary of overnight action across global markets, double click on AU/CALL
For a digest of the day's business stories in Australian newspapers, double click on PRESS/AUB