Reuters: Hot Stocks: Australia shares seen topping 5-year highs on Fed decision

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Australia shares seen topping 5-year highs on Fed decision Sep 18th 2013, 23:10 SYDNEY, Sept 19 | Wed Sep 18, 2013 7:10pm EDT SYDNEY, Sept 19 (Reuters) - Australian shares are seen pushing past 5-year highs on Wednesday as Wall Street rallied overnight after the U.S. Federal Reserve indicated it would not start tapering its stimulus programme yet, surprising investors. * Local share price index futures rose 1.2 percent, a 66.9-point premium to the underlying S&P/ASX 200 index close. The benchmark fell 0.3 percent on Wednesday. * New Zealand's benchmark NZX 50 index rose 0.5 percent in early trade. * U.S. stocks rallied to record highs on Wednesday after the Federal Reserve, in a surprise move to markets, decided against scaling back a stimulus programme that has helped fuel Wall Street's rally of more than 20 percent this year. * The Fed defied investor expectations on Wednesday by postponing the start of the wind-down of its massive monetary stimulus, saying it wanted to wait for more evidence of solid economic growth. * Copper rallied almost 3 percent to two-week highs as the dollar sank after the Fed's decision. * Gold surged more than 4 percent to above $1,360 an ounce. ----------------------MARKET SNAPSHOT @ 2246 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 1725.52 1.22% 20.760 USD/JPY 98.22 0.3% 0.290 10-YR US TSY YLD 2.6915 -- 0.000 SPOT GOLD 1360.95 -0.26% -3.590 US CRUDE 108.19 0.11% 0.120 DOW JONES 15676.94 0.95% 147.21 ASIA ADRS 150.37 2.60% 3.82 ------------------------------------------------------------- * Dow, S&P 500 end at record highs as Fed leaves stimulus intact * Oil gains sharply as Fed sticks to stimulus * Gold soars 4.2 pct after Fed's surprise on stimulus * Copper soars as dollar sinks after Fed stimulus surprise 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 Stephen Coates) Link this Share this Digg this Email Reprints

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