Reuters: Hot Stocks: Australia shares seen to track Wall St. higher on QE hopes

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Australia shares seen to track Wall St. higher on QE hopes Oct 29th 2013, 22:14 Tweet Share this Email Print Reprints Tue Oct 29, 2013 6:14pm EDT SYDNEY, Oct 30 (Reuters) - Australian shares are likely to track Wall Street higher on Wednesday, recovering from a fall in the previous session, as investors expect that the U.S. Federal Reserve will maintain its asset-purchase stimulus program following its two-day policy meeting. * Local share price index futures rose 0.5 percent to 5,434.0, a 18.5-point premium to the underlying S&P/ASX 200 index close. The benchmark dropped 0.5 percent on Tuesday. * New Zealand's benchmark NZX 50 index inched up 0.1 percent to 4,855.9 in early trade. * The Dow and S&P 500 indexes ended at record highs on Tuesday after U.S. economic data supported views that the Federal Reserve would keep its stimulus intact for several months and IBM Corp rallied after the company announced a stock buyback. * Aluminium fell on Tuesday as the fund-buying and short-covering that drove it to a two-month high dried up, while copper steadied on bets the U.S. central bank will delay tapering its monetary stimulus programme. * Archer Daniels Midland Co said on Tuesday its planned A$3.0 billion ($2.8 billion) acquisition of Australian grain handler GrainCorp Ltd will likely be delayed until early next year. * Meridian Energy Ltd staged a successful debut on Tuesday after New Zealand's government went to great lengths to win over investors, but even more in the way of sweeteners may be needed for the country's next asset sale. * Fortescue Metals Group Ltd said on Wednesday it was pursuing repricing of $5 bln senior secured credit facility. ------------------ MARKET SNAPSHOT @ 2206 GMT ------------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 1,771.95 0.56% 9.840 USD/JPY 98.17 0% 0.000 10-YR US TSY YLD 2.5034 -- 0.000 SPOT GOLD 1,344.16 0.03% 0.470 US CRUDE 97.64 -0.57% -0.560 DOW JONES 15,680.35 0.72% 111.42 ASIA ADRS 150.27 0.59% 0.88 ------------------------------------------------------------- * Dow, S&P 500 end at highs on stimulus hopes, IBM * Oil drops on Libyan export resumption hopes * Gold falls on dollar rise, awaits Fed statement * Aluminium falls as fund-buying, short-covering dry up For a digest of the day's business stories in Australian newspapers, double-click on: (Reporting by Maggie Lu Yueyang, editing by G Crosse) Tweet this Link this Share this Digg this Email Reprints Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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