Reuters: Hot Stocks: Australia shares seen falling on Wall St, weak metals prices

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Australia shares seen falling on Wall St, weak metals prices Sep 23rd 2013, 22:50 SYDNEY, Sept 24 | Mon Sep 23, 2013 6:50pm EDT SYDNEY, Sept 24 (Reuters) - Australian shares are seen falling on Tuesday after Wall St declined overnight as investors continued to fret about the U.S. Federal Reserve tapering its stimulus, while a fall in metals prices may hit mining stocks. * Local share price index futures fell 0.5 percent, a 17.5-point discount to the underlying S&P/ASX 200 index close. The benchmark fell 0.5 percent on Monday. * New Zealand's benchmark NZX 50 index fell 0.1 percent in early trade. * U.S. stocks declined for a third straight session on Monday as Federal Reserve officials suggested the Fed could still begin scaling back its stimulus later this year. * William Dudley, president of the Federal Reserve Bank of New York, said in a speech the timeline that Fed Chairman Ben Bernanke's argument in June for scaling back the central bank's stimulus measures is "very much intact," as long as the economy keeps improving. * Adding to concerns was the approaching Oct. 1 deadline for Congress to avoid a government shutdown as lawmakers negotiate ahead of the end of the fiscal year. * Copper prices fell for a second straight session as a weak euro and concerns about growing supply offset expectations of a rebound in demand from top consumer China. Gold edged down. ----------------------MARKET SNAPSHOT @ 2241 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 1701.84 -0.47% -8.070 USD/JPY 98.79 -0.03% -0.030 10-YR US TSY YLD 2.7008 -- 0.000 SPOT GOLD 1321.44 -0.01% -0.100 US CRUDE 103.38 -0.20% -0.210 DOW JONES 15401.38 -0.32% -49.71 ASIA ADRS 148.40 0.38% 0.56 ------------------------------------------------------------- * Wall St Falls on Fed officials' comments, Washington worries * Oil sheds $1/BBL on higher supplies, Iran diplomacy * Gold falls on renewed Fed tapering worries * Copper slips, growing supply in focus 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 Eric Walsh) Link this Share this Digg this Email Reprints

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