SYDNEY: Australian shares are set to open lower on Thursday, extending losses after touching a 4-1/2-month low and tracking a decline on Wall Street on renewed worries the Federal Reserve may begin to scale back its bond-buying stimulus.

Local share price index futures fell 1 percent to 4,784.0, a 51.2-point premium/discount to the underlying S&P/ASX 200 index close.

The local benchmark slumped 1.3 percent in the last session to a 4-1/2-month low on a disappointing reading of Australia's economic growth.

New Zealand's benchmark NZX 50 index fell 0.9 percent to 4,412.2 in early trade.

US stocks dropped 1 percent on Wednesday, extending a recent selloff, as investors grappled with concerns that the Federal Reserve may begin to scale back its bond-buying stimulus while the economy is still sluggish.

Copper was unchanged on Wednesday as a shutdown at the world's second-largest mine of the metal supported prices and offset the impact of data suggesting top consumer China's economy is struggling.

Qantas Airways Ltd said on Thursday that Hong Kong conglomerate Shun Tak would join the airline and China Eastern Airlines Corp Ltd taking a 33.3 percent share of Jetstar Hong Kong.

Air New Zealand Ltd said on Thursday that it would increase its stake in Virgin Australia Holdings Ltd by 3 percentage points to 22.99 percent, subject to regulatory approval.

<Center><b><i>Copyright Reuters, 2013</b></i><br></center>