Reuters: Hot Stocks: Australia shares seen dipping further on stimulus concern

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Australia shares seen dipping further on stimulus concern May 26th 2013, 23:02 Tweet Share this Email Print Sun May 26, 2013 7:02pm EDT SYDNEY, May 27 (Reuters) - Australian shares are seen dipping further after last week's sharp decline on concerns that the Federal Reserve may scale back its stimulus measures, with trading due to be subdued ahead of a public holiday in the United States. * Local share price index futures edged down 0.1 percent to 4,967.0, a 16.5-point discount to the underlying S&P/ASX 200 index close. The benchmark fell 1.6 percent to finish at 4,983.5 on Friday, its lowest close since April 23. * New Zealand's benchmark NZX 50 index eased 0.1 percent to 4,521.9 in early trade. * The S&P 500 declined for a third day on Friday, with the three major U.S. stock indexes posting their first negative week since mid-April on lingering concern that the U.S. central bank may scale back its stimulus measures to support the economy. * Data from the United States showed orders for long-lasting manufactured goods rose more than expected in April, a sign of resilience in the factory sector despite belt-tightening in Washington and weakness in overseas markets. * Copper was little changed on Friday as investors weighed the potential impact on metals demand of upbeat figures on U.S. jobs and factory output versus data showing slower industrial activity in top metals consumer China. * Origin Energy is offering Royal Dutch Shell's stalled Arrow liquefied natural gas venture in eastern Australia the opportunity to collaborate on the expansion of its A$24.7 billion ($23.8 billion) plant already under construction on Curtis Island. * News Corp said on Friday it would write down the value of its Australian and U.S. publishing assets by up to $1.4 billion, as the company prepares to split its business between its newspaper and entertainment operations. * David Jones, Australia's No. 2 department store chain, will report its third-quarter sales on Monday. ----------------------MARKET SNAPSHOT @ 2238 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 1649.6 -0.06% -0.910 USD/JPY 101.14 -0.16% -0.160 10-YR US TSY YLD 2.0107 -- 0.000 SPOT GOLD 1386.34 0.06% 0.790 US CRUDE 93.5 -0.69% -0.650 DOW JONES 15303.10 0.06% 8.60 ASIA ADRS 139.79 -1.85% -2.63 ------------------------------------------------------------- * Wall St posts 1st weekly loss since mid-April on Fed angst * Oil edges up on book squaring, posts big weekly drop * Gold dips, but 2.15 pct weekly rise biggest in a month * Copper steady as investors ponder U.S., Chinese data 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; Editing by Peter Cooney) 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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