Australia shares seen slipping on U.S., Japan, China concerns

Tue May 28, 2013 12:08am BST

MELBOURNE, May 28 (Reuters) - Australian shares are set to
open lower on Tuesday, adding to a five-day losing streak, with
investors unnerved by a slump in the Japanese market,
uncertainty over U.S. stimulus measures and sluggish Chinese
growth weighing on iron ore prices.
    
    * Local stock index futures fell 0.3 percent to
4,938.0, a 21.9-point discount to the underlying S&P/ASX 200
 close. The benchmark fell 0.5 percent on Monday.
    * New Zealand's benchmark NZX 50 index rose 0.4
percent to 4,494.7 in early trade.
    * U.S. and British markets were closed for public holidays.
    * Shanghai copper slipped on Monday and was mired near last
week's lows on worries fitful growth in top consumer China would
not be met by fresh stimulus. Gold rose.
    * Shares in Australand Property Group will be in
focus after GPT Group scrapped a plan to buy
Australand's $2.4 billion investment property portfolio and its
commercial and industrial business. 
    An analyst speculated that with no deal, Singapore's
CapitaLand may look to sell down its 59 percent stake
in Australand, the Australian Financial Review reported.

----------------------MARKET SNAPSHOT @ 2155 GMT ------------
                    INSTRUMENT   LAST       PCT CHG   NET CHG
S&P 500                   CLOSED      CLOSED    CLOSED
USD/JPY                   101.06       0.13%     0.130
10-YR US TSY YLD     2.0107          --     0.000
SPOT GOLD                 1394.28      0.00%     0.000
US CRUDE                  93.65       -0.53%    -0.500
DOW JONES                 CLOSED      CLOSED    CLOSED
ASIA ADRS                139.79      -1.85%     -2.63
-------------------------------------------------------------   
                                                        
                                                   
  * Brent dips on weak economic data, ample supplies       
  * Gold rises on physical demand as dollar dips          
  * ShFE copper slips on China growth worries,trade thin 
    
    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; Editing by Chris Gallagher)