Australian shares were set to fall on Thursday tracking a weak finish on Wall Street overnight and as weaker commodities prices are expected to pressure local miners and energy stocks.

The local share price index futures fell 0.5%, a 68.7-point discount to the underlying S&P/ASX 200 index close. The benchmark ended largely flat on Wednesday.

New Zealand's benchmark S&P/NZX 50 index was down by 0.1% in early trade at 13006.99 points.