Reuters: Hot Stocks: Australia shares slip, but eke out modest gain for 4th consecutive wk

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Australia shares slip, but eke out modest gain for 4th consecutive wk Nov 1st 2013, 05:21 Fri Nov 1, 2013 1:21am EDT SYDNEY Nov 1 (Reuters) - Australian shares fell 0.3 percent on Friday, treading cautiously into a new month as global anxiety over the U.S. Federal Reserve's stimulus-tapering plans checked demand for riskier assets. The S&P/ASX 200 index fell 14.4 points to finish the week at 5,411.1. The benchmark slipped 0.1 percent on Thursday, and rose 0.5 percent for the week to cap the fourth consecutive week of gains. The marker recouped some of its earlier losses after a survey of manufacturing from Australia's major trading partner China showed the sector grew at the fastest pace in 18 months in October. The official Purchasing Mangers' Index (PMI) rose to 51.4 last month from September's 51.1, beating economists' consensus forecast of 51.2. New Zealand's benchmark NZX 50 index rose 0.1 percent to finish at 4,913.8. (Reporting by Thuy Ong; Editing by Shri Navaratnam)

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