Reuters: Hot Stocks: Australia shares seen climbing on China growth

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Australia shares seen climbing on China growth Sep 2nd 2013, 23:00 Tweet Share this Email Print Mon Sep 2, 2013 7:00pm EDT MELBOURNE, Sept 3 (Reuters) - Australian shares are set to open higher on Tuesday on momentum from better-than-expected factory activity in China, the top market for heavyweight miners, which pushed the market to a 3-1/2-month high on Monday. * Local share price index futures rose 0.5 percent to 5,208.0, a 19.7-point premium to the underlying S&P/ASX 200 index close. The benchmark rose 1 percent on Monday. * New Zealand's benchmark NZX 50 index slipped 5.2 points to 4,591.1 in early trade. * Wall Street was closed for the U.S. Labor Day holiday on Monday. * Copper rose on Monday as strong manufacturing data from top metals consumer China boosted optimism about demand prospects for metals. Gold slipped below $1,400 an ounce. * The Reserve Bank of Australia holds its monthly policy meeting on Tuesday and is widely expected to hold rates steady, after having cut rates to a record low of 2.5 percent in August. ------------------ MARKET SNAPSHOT @ 2254 GMT ------------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 1,632.97 -0.32 -5.200 USD/JPY 99.51 0.18 0.180 10-YR US TSY YLD 2.7894 -- 0.000 SPOT GOLD 1,391.25 -0.22 -3.040 US CRUDE 106.82 -0.77 -0.830 DOW JONES 14,810.31 -0.21 -30.64 ASIA ADRS 136.57 -0.99 -1.36 ------------------------------------------------------------- * Wall Street was closed for the Labor Day holiday * Oil ekes gain, reverses early rout as Syria risk eases * Gold down as Syria concerns ease; silver up * Copper up as China manufacturing data spurs demand 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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