Australia shares seen opening soft after mixed data, China slows

Mon Jan 6, 2014 5:18pm EST

SYDNEY, Jan 7 (Reuters) - Australian shares are set to edge
lower on Tuesday, under pressure following a dip in Wall Street
on a mixed bag of economic data, as investors also become
concerned about China's growth after the country's service
industries slowed in December.
    
    * Local share price index futures dipped 0.1
percent to 5,298, a 26.9-point discount to the underlying
S&P/ASX 200 index close. The benchmark slipped 0.5
percent on Monday. 
    * New Zealand's benchmark NZX 50 index added 0.1
percent to 4,771.5 in early trade.
    * U.S. stocks slipped on Monday after a mixed batch of
economic reports, which showed a slowdown in growth in the U.S.
services sector and a rebound in new orders for factory goods.
    * Copper steadied on Monday as the dollar fell but the metal
remained near a two-week low on concerns about economic recovery
in China, which accounts for about 40 percent of global copper
demand.
    * Royal Dutch Shell and BP are considering
the sale of refineries and petrol stations in Australia to free
up cash, the Australian Financial Review reported on Tuesday.
 
    * Australia's trade balance for November will be released on
Tuesday, as well as iron ore export figures for December.     
  
----------------------MARKET SNAPSHOT @ 2201 GMT ------------
                    INSTRUMENT   LAST       PCT CHG   NET CHG
S&P 500                   1826.77     -0.25%    -4.600
USD/JPY                   104.22       0.01%     0.010
10-YR US TSY YLD     2.9576          --    -0.037
SPOT GOLD                 1237.45     -0.01%    -0.150
US CRUDE                  93.67       -0.31%    -0.290
DOW JONES                 16425.10    -0.27%    -44.89
ASIA ADRS                146.62      -0.34%     -0.49
-------------------------------------------------------------   
                                                        
      
  * Wall St dips for third straight day after mixed data   
  * Brent crude finishes lower; Libyan supply in sight    
  * Gold shakes off early tumble and rises as shares ease 
  * Copper steadies near two-week lows as China worries drag    
                                           
    
    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 Maggie Lu Yueyang; Editing by Chris Reese)
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.