Reuters: Hot Stocks: Australia shares seen slipping on U.S., Japan, China concerns

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Australia shares seen slipping on U.S., Japan, China concerns May 27th 2013, 23:08 Tweet Share this Email Print Mon May 27, 2013 7:08pm EDT MELBOURNE, May 28 (Reuters) - Australian shares are set to open lower on Tuesday, adding to a five-day losing streak, with investors unnerved by a slump in the Japanese market, uncertainty over U.S. stimulus measures and sluggish Chinese growth weighing on iron ore prices. * Local stock index futures fell 0.3 percent to 4,938.0, a 21.9-point discount to the underlying S&P/ASX 200 close. The benchmark fell 0.5 percent on Monday. * New Zealand's benchmark NZX 50 index rose 0.4 percent to 4,494.7 in early trade. * U.S. and British markets were closed for public holidays. * Shanghai copper slipped on Monday and was mired near last week's lows on worries fitful growth in top consumer China would not be met by fresh stimulus. Gold rose. * Shares in Australand Property Group will be in focus after GPT Group scrapped a plan to buy Australand's $2.4 billion investment property portfolio and its commercial and industrial business. An analyst speculated that with no deal, Singapore's CapitaLand may look to sell down its 59 percent stake in Australand, the Australian Financial Review reported. ----------------------MARKET SNAPSHOT @ 2155 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 CLOSED CLOSED CLOSED USD/JPY 101.06 0.13% 0.130 10-YR US TSY YLD 2.0107 -- 0.000 SPOT GOLD 1394.28 0.00% 0.000 US CRUDE 93.65 -0.53% -0.500 DOW JONES CLOSED CLOSED CLOSED ASIA ADRS 139.79 -1.85% -2.63 ------------------------------------------------------------- * Brent dips on weak economic data, ample supplies * Gold rises on physical demand as dollar dips * ShFE copper slips on China growth worries,trade thin 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; Editing by Chris Gallagher) 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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