Reuters: Hot Stocks: Australia shares edge down in choppy trade, up 3.3 percent for H1

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Australia shares edge down in choppy trade, up 3.3 percent for H1 Jun 28th 2013, 06:25 Fri Jun 28, 2013 2:25am EDT SYDNEY, June 28 (Reuters) - Australian shares closed down 0.2 percent in choppy trade on Friday, ending the first half of the year 3.3 percent higher as buying ramped up in the afternoon on improved confidence in China's credit conditions. Australian stocks have been hit hard in recent sessions, pulled down from a year-high of 5,249.6 points set on May 15 by concerns about the U.S. Federal Reserve's plans to curtail its stimulus and a cash crunch in China. China's central bank sought to quell fears that a credit crunch could hobble activity, saying on Friday that authorities would ensure reasonable lending growth and stable markets. The S&P/ASX 200 index lost 8.7 points to 4,802.6, but its weekly gain of 1.3 percent was the biggest in 1-1/2 months. The benchmark jumped 1.7 percent on Thursday. New Zealand's benchmark NZX 50 index rose 0.5 percent to 4,440.2.

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