Reuters: Hot Stocks: Australia shares seen under pressure from U.S., China worries

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Australia shares seen under pressure from U.S., China worries Sep 30th 2013, 22:46 Tweet Share this Email Print Mon Sep 30, 2013 6:46pm EDT MELBOURNE, Oct 1 (Reuters) - Australian shares are poised to open a touch higher, but will struggle to hold on to any gains amid worries about China's economic growth and the possibility of a U.S. government shutdown. * Local share price index futures rose 0.1 percent to 5,229, a 9.1-point premium to the underlying S&P/ASX 200 index close. The benchmark slid 1.7 percent from five-year highs on Monday. * New Zealand's benchmark NZX 50 index fell 0.4 percent to 4,719.2 in early trade. * Wall Street stocks closed lower on Monday with just hours to go before a midnight deadline to avert a U.S. federal government shutdown, but major indexes ended September with solid monthly gains. * Copper steadied on Monday as a soft dollar and signs of steady global growth offset investors' concerns about the prospect of an imminent U.S. government shutdown. Gold fell. * The U.S. Congress, still in partisan deadlock on Monday over Republican efforts to halt President Barack Obama's healthcare reforms, was on the verge of shutting down most of the U.S. government starting on Tuesday morning. * The Reserve Bank of Australia holds its monthly policy setting meeting on Tuesday, where it is considered almost certain to keep interest rates at a record low of 2.5 percent. ------------------ MARKET SNAPSHOT @ 2231 GMT ---------------- INSTRUMENT LAST PCT CHG NET CHG S&P 500 1,681.55 -0.6% -10.200 USD/JPY 98.26 0.05% 0.050 10-YR US TSY YLD 2.6154 -- 0.000 SPOT GOLD 1,329.59 0.20% 2.650 US CRUDE 102.3 -0.03% -0.030 DOW JONES 15,129.67 -0.84% -128.57 ASIA ADRS 146.21 -1.07% -1.58 ------------------------------------------------------------- * Wall St declines as government shutdown nears * Oil drops, pares losses on U.S. shutdown uncertainty * Gold posts best quarter in a year * Copper steady on growth prospects, U.S. worries weigh For a digest of the day's business stories in Australian newspapers, double click on 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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