Jan 20 (Reuters) - Australian shares are set to open lower on Friday, tracking Wall Street, as investors turn cautious ahead of U.S. President-elect Donald Trump's inauguration and Chinese GDP data, while lower base metals and iron ore prices could weigh on miners.
The three major U.S stock indexes were in the red as investors backed off from risky assets ahead of Trump's inauguration on Friday. .N Chinese fourth-quarter GDP and December industrial production figures are expected later in the day. ECONASIA
Local share price index futures YAPcm1 fell 0.2 percent, or 10 points, to 5,627, a 65.2-point discount to the underlying S&P/ASX 200 index .AXJO close. The benchmark closed 0.2 percent higher on Thursday.
New Zealand's benchmark S&P/NZX 50 index .NZ50 was flat at 7,059.85 points in early trade.
For 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