Jan 24 (Reuters) - Australian shares are expected to open lower on Monday, as tech stocks are likely to track a lower finish by Nasdaq on Friday, amid fears of inflation and policy tightening by the U.S. Federal Reserve. The local share price index futures fell 0.7%, a 169.7-point discount to the underlying S&P/ASX 200 index (.AXJO) close. The benchmark had lost 2.3% on Friday. New Zealand"s benchmark S&P/NZX 50 index (.NZ50) was down 0.9% to 12,238.26 points in early trade.