SYDNEY, Aug 20 (Reuters) - Australian shares are set for a weak start on Thursday, hurt by negative global sentiment, worries over Chinese shares and falling commodity prices.
Copper slid to a six-year low on Wednesday below $5,000 a tonne while U.S. crude oil slumped over 4 percent to a 6-1/2 year low. Chinese iron ore futures slumped as much as 3 percent.
The local share price index futures YAPcm1 fell 0.9 percent, or 48 points, in overnight trading to sit at a 75.2-point discount to the underlying S&P/ASX 200 index .AXJO . The benchmark rallied 1.5 percent on Wednesday, having recovered from a seven-month trough touched on Tuesday.
Qantas Airways QAN.AX reported a return to full-year profit on the back of a tough cost-cutting program and tailwinds from cheaper fuel costs.
AMP AMP.AX posted a 3 pecent jump in half-year profit and lifted its interim dividend to 14 cents a share.
Gold miners such as Newcrest Mining NCM.AX will also be in focus after the metal rallied to a one-month high.
New Zealand's benchmark NZX 50 index .NZ50 was barely changed at 5,746.27 points in early trade.