Reuters: Hot Stocks: Australia shares down after Wall St drops, awaiting China PMI

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Australia shares down after Wall St drops, awaiting China PMI May 23rd 2013, 00:27 Wed May 22, 2013 8:27pm EDT SYDNEY May 23 (Reuters) - Australian shares fell 0.4 percent early on Thursday, after Wall Street retreated over worries that the U.S. Federal Reserve may consider winding back its economic stimulus programme. Investors will watch for HSBC's early manufacturing report on China, Australia's biggest export market, for clues to China's economic recovery. The benchmark S&P/ASX 200 index lost 22.6 points to 5,142.8 by 0011 GMT. The index fell 0.3 percent on Wednesday. New Zealand's benchmark NZX 50 index slipped 0.1 percent to 4,614.1 points. (Reporting by Maggie Lu Yueyang; Editing by Richard Pullin)

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