Reuters: Hot Stocks: Australia shares slip on Fed's policy concerns, miners drop

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Australia shares slip on Fed's policy concerns, miners drop Jan 3rd 2013, 23:36 Tweet Share this Email Print Related Topics Basic Materials » Energy » Industrials » Thu Jan 3, 2013 6:36pm EST (Updates to opening levels) SYDNEY, Jan 4 (Reuters) - Australian shares slipped 0.3 percent in early morning trade on Friday, with investors pulling back after a sharp two-day rally on the Federal Reserve's growing concern about its highly stimulative monetary policy. Big miners lost ground with BHP Billiton Ltd falling 1.3 percent and Rio Tinto Ltd declining 2.0 percent, although spot iron ore prices climbed to a 15-month high of $149.80 a tonne .IO62-CNI=SI on Thursday thanks to demand from China. The S&P/ASX 200 index was down 14.1 points at 4,726.6 by 2316 GMT. It rose 0.7 percent to 4,740.7 on Thursday, its highest since May 19, 2011. New Zealand's benchmark NZX 50 index inched up 0.1 percent to 4,084.8. (Reporting By Maggie Lu Yueyang; Editing by Stephen Coates) Related Quotes and News Company Price Related News 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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