The Australian share markets has slipped lower at noon as investors stay away from risky bets ahead of Donald Trump's swearing-in as US president and a flurry of Chinese economic data.
The benchmark S&P/ASX200 was down 0.7 per cent at mid-day, weighed down by losses in materials and banking shares.
Mr Trump is scheduled to be sworn in later on Friday US time, while investors are also keeping an eye on Chinese gross domestic product and industrial production and US Federal Reserve chair Janet Yellen's latest comments.
In the local market, mining majors Rio Tinto and BHP Billiton lost ground, falling more than one per cent each as iron ore prices eased.
Energy shares were also lower, with Santos down nearly 1.5 per cent at $4.05, despite topping full year productin and sales guidance for 2016.
Australia's big four banks were among the major losers as investors booked profits after recent gains. Commonwealth Bank, Westpac, National Australia Bank and ANZ were down between 1.5 to 2.0 per cent.
Shares in Oroton slid more than 15 per cent to $1.79 after the handbags and accessories retailer issued an earnings warning due to a big sales drop.
Meanwhile, the Australian dollar is stronger against the greenback ahead of the Chinese data.
ON THE ASX:
* At 1200 AEDT, the benchmark S&P/ASX200 was down 38.4 points, or 0.67 per cent, at 5,653.8 points.
* The broader All Ordinaries index was down 36.8 points, or 0.64 per cent, at 5,708.6 points.
* The March SPI200 futures contract was down 33 points, or 0.59 per cent, at 5,604 points.
* National turnover was 1.3 billion securities traded worth $1.75 billion.
CURRENCY SNAPSHOT AT 1200 AEDT:
One Australian dollar buys:
* 75.56 US cents, from 75.23 US cents on Thursday
* 86.97 Japanese yen, from 86.19
* 70.92 euro cents, from 70.71 cents
* 61.27 British pence, from 61.28 pence
* 105.17 New Zealand cents, from 105.30 NZ cents
BOND SNAPSHOT AT 1200 AEDT:
* CGS 5.25 per cent March 2019, 1.896pct, up from 1.881pct from Thursday
* CGS 4.25pct April 2026, 2.736pct, up from 2.702pct
Sydney Futures Exchange prices:
* March 2017 10-year bond futures contract at 97.170 (implying a yield of 2.830pct), down from 97.210 (2.790pct) on Thursday
* March 2017 3-year bond futures contract at 97.940 (2.060pct), down from 97.950 (2.050pct) on Thursday
(*Currency closes taken at 1700 AEDT previous local session, bond market closes taken at 1630 AEDT previous local session)