Reuters: Hot Stocks: Australia shares seen under pressure, eyes on China factory data

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Australia shares seen under pressure, eyes on China factory data Jun 30th 2013, 23:20 SYDNEY, July 1 | Sun Jun 30, 2013 7:20pm EDT SYDNEY, July 1 (Reuters) - Australian shares are set to start with a cautious note on Monday, as investors fret about the possibility of the U.S. Federal Reserve scaling back its stimulus and slower growth in China. The market will look to manufacturing data out of China, Australia's biggest export market. * Local share price index futures slipped 0.1 percent to 4,762.0, a 40.6-point discount to the underlying S&P/ASX 200 index close. The benchmark edged down 0.2 percent in choppy trade on Friday. * New Zealand's benchmark NZX 50 index dropped 0.2 percent to 4,431.7 in early trade. * The Dow and the S&P 500 slipped on Friday following a three-day rally, but the S&P 500 recorded its strongest first half since 1998 after reaching record highs in May on a rally underpinned by the Federal Reserve's massive monetary stimulus. * Copper edged up on Friday amid tentative signs of rising demand with worries about liquidity in top metals consumer China diminishing, but the metal still closed the quarter with its biggest loss in almost two years. * Benefiting from a recent U.S. Supreme Court decision, Rio Tinto Plc has won the dismissal of a nearly 13-year-old U.S. lawsuit accusing the Anglo-Australian mining company of complicity in human rights abuses on the South Pacific island of Bougainville. * Hochtief, the German unit of Spanish construction company ACS, has increased its stake in Leighton, taking advantage of a share price slump to raise its exposure to fast-growing Asian markets. * China's official PMI data is due at 0100 GMT, followed by the HSBC version at 0145 GMT. ----------------------MARKET SNAPSHOT @ 2222 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 1606.28 -0.43% -6.920 USD/JPY 99.25 0.13% 0.130 10-YR US TSY YLD 2.4875 -- 0.000 SPOT GOLD 1235 0.07% 0.840 US CRUDE 96.54 -0.02% -0.020 DOW JONES 14909.60 -0.76% -114.89 ASIA ADRS 134.24 0.59% 0.78 ------------------------------------------------------------- * S&P 500 posts best first half since 1998 * Brent posts 3rd quarterly loss, premium to US oil falls * Gold rises, but posts worst quarter on record * Copper edges up, posts biggest qtrly loss in 2 years For a digest of the day's business stories in Australian newspapers, double click on (Reporting By Maggie Lu Yueyang; Editing by Richard Pullin) Link this Share this Digg this Email Reprints

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