Reuters: Hot Stocks: Australia shares firm 0.25 pct, capped by Fed comment, China capacity

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Australia shares firm 0.25 pct, capped by Fed comment, China capacity May 17th 2013, 00:34 Tweet Share this Email Print Thu May 16, 2013 8:34pm EDT SYDNEY, May 17 (Reuters) - Australian shares rose 0.25 percent on Friday, rebounding from losses in the previous session, as the market drew support from the local dollar holding below parity against the greenback. The benchmark S&P/ASX 200 index rose 11.34 points to 5,176.6 by 0008 GMT, having closed down 0.5 percent on Thursday, but gains were capped by Wall Street's overnight fall and concerns about excess capacity in China. BHP Billiton Ltd and Rio Tinto Ltd rose 0.43 percent and 0.26 percent respectively. Investor concerns were raised after China's vice-premier said the country's demand for commodities had weakened, and that China must "strictly prohibit" further expansion of bloated industrial sectors. New Zealand's benchmark NZX 50 index slipped 0.56 percent or 26.95 points to 4,610.1. (Reporting By Colin Packham; Editing by Michael Perry) 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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