May 11 (Reuters) - Australian shares are expected to open lower on Monday as investors keep risk appetite in check awaiting clarity in the Middle East conflict after U.S. president Trump called Iran's response to a peace proposal by the U.S 'unacceptable.'

The local share price index futures YAPcm1 fell 0.5%, a 8.4-point discount to the underlying S&P/ASX 200 index .AXJO close. The benchmark closed 1.5% lower on Friday.

Across the Tasman Sea, New Zealand's benchmark S&P/NZX 50 index .NZ50 fell 0.2% in early trade.

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