Reuters: Hot Stocks: Australia shares seen treading water, eyes on BOJ meeting

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Australia shares seen treading water, eyes on BOJ meeting Jan 21st 2013, 22:32 Tweet Share this Email Print Mon Jan 21, 2013 5:32pm EST Jan 22 (Reuters) - Australian shares are seen treading water at the open on Tuesday, with investors awaiting the outcome of the Bank of Japan's policy meeting, which is expected to announce aggressive asset buying plans to stimulate the economy. * Local share price index futures dipped 0.1 percent to 4,739.0, a 37.5-point discount to the underlying S&P/ASX 200 index. The benchmark inched up 0.1 percent to hit a 20-month high of 4,777.5 on Monday. * New Zealand's benchmark NZX 50 index lost 0.1 percent, or 2.3 points, to 4,183.0 in early trade. * U.S. stocks markets were closed for a public holiday on Monday. * Copper was little changed in thin trade on Monday as a political attempt to break a budget impasse in the United States revived risk appetite, but was offset by still weak physical demand from top consumer China. * Iron ore prices may struggle to regain their January peaks, as an increase in global supply is expected to outpace a recovery in demand from top importer China, a Reuters poll showed. * Mining firms including BHP Billiton and Anglo American are likely to follow Rio Tinto's lead in writing down underperforming assets by as much as $10 billion, as low prices and rising costs eat into valuations. * Investors will watch closely for the outcome of the Japanese central bank's policy meeting, which might consider aggressive monetary measures to stimulate the economy. ----------------------MARKET SNAPSHOT @ 2220 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 1485.98 0.34% 5.040 USD/JPY 89.62 0.04% 0.040 10-YR US TSY YLD 1.8399 -- 0.000 SPOT GOLD 1689.55 0.00% 0.000 US CRUDE 95.47 -0.09% -0.090 DOW JONES 13649.70 0.39% 53.68 ASIA ADRS 135.22 0.24% 0.32 ------------------------------------------------------------- * Wall St closed for holiday on Monday * Oil edges lower on oversupply concern * Gold firms as U.S. budget talks lift European stocks * Copper steady as global macro signals improve For a digest of the day's business stories in Australian newspapers, double click on (Australia/New Zealand bureaux; +61 2 9373 1800/+64 4 471 4234) (Reporting By Maggie Lu Yueyang) Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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