Australian shares set to open lower; NZ slightly up

Australian shares are likely to open lower on Wednesday tracking their Wall Street peers, which retreated from record highs amidst investor caution around economic growth concerns and the Federal Reserve policy announcement later in the global day.

The local share price index futures fell 0.3%, a 115.4-point discount to the underlying S&P/ASX 200 index close.

The benchmark closed at a record high on Tuesday.

Australian, NZ shares up

New Zealand's benchmark S&P/NZX 50 index was up 0.1% in early trading.