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Australia shares slip 0.2 pct ahead of Fed meeting outcome
June 18, 2013 / 6:21 AM / 4 years ago

Australia shares slip 0.2 pct ahead of Fed meeting outcome

(Updates to close)

SYDNEY, June 18 (Reuters) - Australian shares fell 0.2 percent in volatile trade on Tuesday, as investors awaited the outcome of the U.S. Federal Reserve’s monetary meeting and turned tentative before an options expiry date.

Major banks and miners led the index lower but the market came off its intra-day low as offshore funds returned, brokers said.

The S&P/ASX 200 index lost 11.5 points to 4,814.4, according to the latest data. The benchmark rose 0.7 percent on Monday.

The Australian index has suffered a sharp selloff in sympathy with a rout in global markets in recent sessions, driven by uncertainty over the Fed’s stimulus measures, volatility in Japanese equities and slowing growth in China, Australia’s major export market.

New Zealand’s benchmark NZX 50 index added 0.3 percent or 14.5 points to 4,462.1.

Reporting by Maggie Lu Yueyang; Editing by Stephen Coates

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