Reuters: Hot Stocks: Australia shares seen falling on US fiscal woes, miners may support

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Australia shares seen falling on US fiscal woes, miners may support Sep 25th 2013, 23:07 SYDNEY, Sept 26 | Wed Sep 25, 2013 7:07pm EDT SYDNEY, Sept 26 (Reuters) - Australian shares are seen opening lower on Thursday after Wall Street lost ground overnight as investors fretted over looming fiscal deadlines, but a rise in metals prices may help limit any losses. * Local share price index futures fell 0.2 percent, a 10.9-point discount to the underlying S&P/ASX 200 index close. The benchmark rose 0.7 percent on Wednesday after three days of losses. * New Zealand's benchmark NZX 50 index fell 0.3 percent in early trade. * U.S. stocks fell on Wednesday and the S&P 500 put in a fifth day of losses, its longest losing streak since the end of 2012, on jitters funding for the federal government would run out and after a drop in shares of Wal-Mart stores. *Investors worried about two looming Washington deadlines: before Oct. 1 Congress needs to pass stop-gap funding for federal agencies and by Oct. 17 it must raise the federal borrowing limit to avoid a debt default by the United States. * Copper edged up as solid demand from Australia's biggest export market China helped stem three consecutive days of falls, though uncertainty about the U.S. fiscal outlook and its monetary policy kept gains in check. Gold rose almost 1 percent on Wednesday, boosted by some safe-haven buying. ----------------------MARKET SNAPSHOT @ 2248 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 1692.77 -0.27% -4.650 USD/JPY 98.47 0.05% 0.050 10-YR US TSY YLD 2.6262 -- 0.000 SPOT GOLD 1333.09 0.01% 0.100 US CRUDE 102.35 -0.30% -0.310 DOW JONES 15273.26 -0.40% -61.33 ASIA ADRS 147.79 -0.38% -0.56 ------------------------------------------------------------- * Wall St ends down for 5th day as budget impasse, Wal-Mart weighs * Brent edges lower, Iran diplomacy in focus * Gold rises on worries over US budget talks * Copper rises after 3-day fall, China demand supports 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 Thuy Ong; Editing by Shri Navaratnam) Link this Share this Digg this Email Reprints

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