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Australia shares seen falling on U.S. tapering talk, drop in metals
September 22, 2013 / 11:25 PM / 4 years ago

Australia shares seen falling on U.S. tapering talk, drop in metals

SYDNEY, Sept 23 (Reuters) - Australian shares are seen falling at the open on Monday as investors fret over mixed signals from the United States about when the Federal Reserve could scale back its stimulus measures, while a drop in metals prices may harm mining stocks.

* Local share price index futures fell 0.4 percent, a 30.7-point discount to the underlying S&P/ASX 200 index close. The benchmark fell 0.4 percent on Friday, retreating from a five-year high.

* New Zealand’s benchmark NZX 50 index fell 0.7 percent in early trade.

* U.S. stocks fell on Friday as investors puzzled over the Federal Reserve’s decision to maintain its stimulus measures as they heard opposing viewpoints from top Fed officials.

* St. Louis Federal Reserve Bank President James Bullard said a reduction of the Fed’s $85 billion monthly bond purchase programme beginning in October was possible.

* Copper edged lower after hitting its highest in almost a month as investors shifted focus back to fragile fundamentals.

* Gold sank 2.5 percent as institutional investors sold aggressively. ----------------------MARKET SNAPSHOT @ 2257 GMT ------------

INSTRUMENT LAST PCT CHG NET CHG S&P 500 1709.91 -0.72% -12.430 USD/JPY 99.31 0.01% 0.010 10-YR US TSY YLD 2.7356 -- 0.000 SPOT GOLD 1324.4 -0.06% -0.810 US CRUDE 104.51 -0.23% -0.240 DOW JONES 15451.09 -1.19% -185.46 ASIA ADRS 147.84 -1.17% -1.74 -------------------------------------------------------------

* Wall St ends down as Fed officials weigh in * Brent crude rises, US falls in heavy spread trading * Gold sinks 2.5 pct on new fears Fed may reduce stimulus * Copper slips as focus shifts from Fed to fundamentals

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

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