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Australia shares seen dipping on US debt, China demand concerns
January 15, 2013 / 11:00 PM / 5 years ago

Australia shares seen dipping on US debt, China demand concerns

SYDNEY, Jan 16 (Reuters) - Australian shares are likely to
open weaker on Wednesday, following a dip in iron ore prices,
with investors becoming  concerned about demand from China and
the debt ceiling issue in the United States.
    
    * Australian share price index futures edged down
0.1 percent, a 30.6-point discount to the underlying S&P/ASX 200
index close. The benchmark ended 0.1 percent lower at
4,716.6 on Tuesday.
    * New Zealand's benchmark NZX 50 index lost 1.1
points to 4,169.9 in early trade.
    * The Dow and S&P 500 edged higher on Tuesday after
stronger-than-expected retail data, although tech heavyweight
Apple dragged on the market for a third day. 
    * Copper prices hit two-week lows on Tuesday as investors
grew concerned about the U.S. debt ceiling and the cloudy
outlook for demand from top consumer China. 
    * Rio Tinto  aims to boost iron ore output by
15 percent this year after production in 2012 climbed to 253
million tonnes, beating its own guidance, as resurgent Chinese
demand drives a price recovery. 
    * Leighton Holdings will be in the frame after
media reported Hong Kong telecommunications company PCCW
 was looking to bid for its infrastructure assets,
including NextGen Networks. 
        
----------------------MARKET SNAPSHOT @ 2247 GMT ------------
                    INSTRUMENT   LAST       PCT CHG   NET CHG
S&P 500                   1472.34      0.11%     1.660
USD/JPY                   88.78          -0%     0.000
10-YR US TSY YLD     1.836           --    -0.012
SPOT GOLD                 1678.99      0.03%     0.490
US CRUDE                  93.39        0.12%     0.110
DOW JONES                 13534.89     0.20%     27.57
ASIA ADRS                134.79      -0.44%     -0.60
-------------------------------------------------------------   
                                                        

        
  * Dow, S&P 500 inch up with retailers but Apple drags again
 
  * Oil slips as German data, US debt ceiling worries weigh  
 
  * Platinum at 3-month high on Amplats overhaul; gold firm 
 
  * Copper hits 2-week low amid US debt, China demand fears
 
    
    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 Paul Tait)

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