Reuters: Hot Stocks: Australia shares retreat from 5-yr highs, but eks out 5th weekly gain

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Australia shares retreat from 5-yr highs, but eks out 5th weekly gain Sep 13th 2013, 06:16 Fri Sep 13, 2013 2:16am EDT SYDNEY, Sept 13 (Reuters) - Australian shares fell 0.4 percent on Friday, retreating from 5-year highs as global markets braced for an expected tapering of the U.S. Federal Reserve's massive money stimulus next week, and a drop in metals prices hurt miners. A Reuters poll shows economists at a majority of U.S. primary dealers expect the Federal Reserve to cut the size of its $85 billion-a-month bond purchases at its policy review next week. The S&P/ASX 200 index fell 22.9 points to finish at 5,219.6, but rose 1.5 percent for the week, marking a fifth consecutive week of gains. New Zealand's benchmark NZX 50 index rose 0.2 percent to finish the session at 4,650.9. (Reporting by Thuy Ong; Editing by Shri Navaratnam)

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