Reuters: Hot Stocks: Australia shares climb 1 pct, investors await Fed Reserve

Reuters: Hot Stocks Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Australia shares climb 1 pct, investors await Fed Reserve Jun 19th 2013, 06:28 Wed Jun 19, 2013 2:28am EDT SYDNEY, June 19 (Reuters) - Australian shares rose 1 percent on Wednesday, helped by expectations that the U.S. Federal Reserve will not move quickly to scale back its monetary stimulus and as a weaker Australian dollar lifted stocks with large exposure to overseas markets. The S&P/ASX 200 index climbed 47.1 points to 4,861.4, according to the latest data. The benchmark slipped 0.2 percent on Tuesday. Global miners BHP Billiton Ltd and Rio Tinto Ltd climbed 0.9 percent and 1.6 percent respectively, bouncing back from a recent sell-off. The Fed meeting started on Tuesday, and traders are trying to guess its timeline for scaling back bond purchases of $85 billion per month. A policy statement from the central bank will be released at 1800 GMT on Wednesday, followed by a news conference with Chairman Ben Bernanke. New Zealand's benchmark NZX 50 index slipped 0.4 percent or 16.6 points to finish the session at 4,445.6. (Reporting by Thuy Ong; Editing by Edwina Gibbs)

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