Reuters: Hot Stocks: Australia shares seen higher on U.S. rally, China liquidity support

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Australia shares seen higher on U.S. rally, China liquidity support Jun 25th 2013, 23:26 SYDNEY, June 26 | Tue Jun 25, 2013 7:26pm EDT SYDNEY, June 26 (Reuters) - Australian shares are set to open higher after a Wall Street rally on better business investment and housing data, and with China's central bank moving to calm fears of a credit crunch. * Local share price index futures rose 0.6 percent to 4,670.0, a 14.0-point premium to the underlying S&P/ASX 200 index close. The benchmark fell 0.3 percent on Tuesday. * New Zealand's benchmark NZX 50 index rose 0.7 percent to 4,346.7 in early trade. * U.S. stocks rose by the most in nearly two weeks on Tuesday after data showed business investment and the housing recovery continued apace, reassuring investors worried about the Federal Reserve's plans to reduce its massive monetary stimulus. * Copper rose on Tuesday, recovering from a three-year low, after China's central bank sought to soothe fears that a bank liquidity crisis would crimp growth in the world's top metals consumer. * China's central bank moved on Tuesday to further assure markets it would provide cash to institutions that need it following days of turmoil that pushed shares to their lowest level in more than four years on fears of a banking crisis. ----------------------MARKET SNAPSHOT @ 2249 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 1588.03 0.95% 14.940 USD/JPY 98.14 0.35% 0.340 10-YR US TSY YLD 2.612 -- 0.000 SPOT GOLD 1276.86 0.01% 0.120 US CRUDE 95.06 -0.27% -0.260 DOW JONES 14760.31 0.69% 100.75 ASIA ADRS 130.35 1.60% 2.05 ------------------------------------------------------------- * Wall St rises on robust U.S. data after recent slide * Oil ends flat in thin trade, Brent/WTI spread narrows * Gold slips as robust data boosts dollar * Copper rises after China's PBOC calms credit fears 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) Link this Share this Digg this Email Reprints

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