Reuters: Hot Stocks: Australia shares seen extending losses on Fed stimulus worries

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Australia shares seen extending losses on Fed stimulus worries Jun 5th 2013, 23:26 Tweet Share this Email Print Wed Jun 5, 2013 7:26pm EDT SYDNEY, June 6 (Reuters) - Australian shares are set to open lower on Thursday, extending losses after touching a 4-1/2-month low and tracking a decline on Wall Street on renewed worries the Federal Reserve may begin to scale back its bond-buying stimulus. * Local share price index futures fell 1 percent to 4,784.0, a 51.2-point premium/discount to the underlying S&P/ASX 200 index close. The local benchmark slumped 1.3 percent in the last session to a 4-1/2-month low on a disappointing reading of Australia's economic growth. * New Zealand's benchmark NZX 50 index fell 0.9 percent to 4,412.2 in early trade. * U.S. stocks dropped 1 percent on Wednesday, extending a recent selloff, as investors grappled with concerns that the Federal Reserve may begin to scale back its bond-buying stimulus while the economy is still sluggish. * Copper was unchanged on Wednesday as a shutdown at the world's second-largest mine of the metal supported prices and offset the impact of data suggesting top consumer China's economy is struggling. * Qantas Airways Ltd said on Thursday that Hong Kong conglomerate Shun Tak would join the airline and China Eastern Airlines Corp Ltd taking a 33.3 percent share of Jetstar Hong Kong. * Air New Zealand Ltd said on Thursday that it would increase its stake in Virgin Australia Holdings Ltd by 3 percentage points to 22.99 percent, subject to regulatory approval. ----------------------MARKET SNAPSHOT @ 2318 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 1608.9 -1.38% -22.480 USD/JPY 98.99 -0.07% -0.070 10-YR US TSY YLD 2.091 -- 0.000 SPOT GOLD 1401.71 -0.08% -1.090 US CRUDE 93.81 0.07% 0.070 DOW JONES 14960.59 -1.43% -216.95 ASIA ADRS 133.57 -2.76% -3.79 ------------------------------------------------------------- * Wall St drops as fears of less Fed stimulus mount * Brent oil ends lower on U.S. refinery start-up report * Gold gains after private U.S. jobs growth misses forecast * Copper steady on mine shutdown, weak demand outlook caps gains 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 Stephen Coates) 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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