Reuters: Hot Stocks: Australia shares slip in choppy trade, investors cautious on US gov't shutdown

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Australia shares slip in choppy trade, investors cautious on US gov't shutdown Oct 1st 2013, 06:16 Tue Oct 1, 2013 2:16am EDT SYDNEY Oct 1 (Reuters) - Australian shares slipped 0.2 percent in volatile trade on Tuesday as the U.S. government began a partial shutdown, but the local market was buoyed somewhat by better-than-expected retail sales data and a slight uptick in the official China PMI. The U.S. government began a partial shutdown for the first time in 17 years as Federal agencies were directed to cut back services after lawmakers could not break a political stalemate. Elsewhere, Australia's central bank kept its main cash rate at a record low of 2.5 percent on Tuesday, saying the full impact of past easing was still percolating through the economy, though it offered little guidance on the chance of further cuts. The S&P/ASX 200 index fell 12.1 points to 5,206.8. New Zealand's benchmark NZX 50 index rose 0.2 percent or 7.5 points to finish the session at 4,743.9. (Reporting by Thuy Ong; Editing by Kim Coghill)

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