Reuters: Hot Stocks: Australian shares down as global worries hit sentiment

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

Australian shares down as global worries hit sentiment Jun 24th 2013, 00:22 Sun Jun 23, 2013 8:22pm EDT SYDNEY, June 24 (Reuters) - Australian shares fell 1.2 percent in early trade on Monday as investors remain concerned about the impact of the Federal Reserve's plans to taper monetary stimulus and slowing growth in China. Financials dragged, with top lender Commonwealth Bank of Australia down 1.1 percent and National Australia Bank losing 0.9 percent. The S&P/ASX 200 index tumbled 55.1 points to 4,683.7 by 0011 GMT. The benchmark fell 1.1 percent last week. AMP Ltd plunged 8.8 percent after the insurance and wealth management company warned its first-half underlying profit would drop by around 13 percent due to high claims and policy lapses. The Fed's plan to cut back on how much cheap money it pumps into the world's biggest economy has raised concerns about the impact on growth and prompted sharp adjustments in global asset markets. New Zealand's benchmark NZX 50 index rose 0.3 percent or 12.1 points to 4,375.2. (Reporting by Thuy Ong; Editing by John Mair)

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