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Australia shares seen falling further on China worries
June 24, 2013 / 10:57 PM / 4 years ago

Australia shares seen falling further on China worries

MELBOURNE, June 25 (Reuters) - Australian shares are set to
open lower, with concerns about a cash crunch holding back
growth in China weighing on the big miners and offsetting gains
in companies benefiting from a stronger U.S. dollar.
    
    * Stock index futures fell 0.6 percent to 4,603.0,
a 66.1-point discount to the underlying S&P/ASX 200 index
 close. The benchmark dropped 1.5 percent on Monday.
    * New Zealand's benchmark NZX 50 index fell 0.4
percent to 4,344.5 in early trade.
    * U.S. stocks fell more than 1 percent on Monday, adding to
a sell-off built on concerns about reduced stimulus from the
Federal Reserve and on overnight losses in Chinese equity
markets.
    * Copper slumped to its lowest level in almost three years
on Monday, pressured by a firmer dollar and concerns that a
possible liquidity squeeze could hurt the economy and demand in
top metals consumer China. Gold fell about 1 percent.
    * Less than a week after the U.S. Federal Reserve set off a
cascade of selling in global markets, two of its top officials
downplayed the notion of an imminent end to monetary stimulus
and said on Monday the market reaction was not yet cause for
concern. 
    

----------------------MARKET SNAPSHOT @ 2223 GMT ------------
                    INSTRUMENT   LAST       PCT CHG   NET CHG
S&P 500                   1573.09     -1.21%   -19.340
USD/JPY                   97.69       -0.03%    -0.030
10-YR US TSY YLD     2.5442          --     0.000
SPOT GOLD                 1281.36      0.01%     0.070
US CRUDE                  95          -0.19%    -0.180
DOW JONES                 14659.56    -0.94%   -139.84
ASIA ADRS                128.30      -2.35%     -3.08
-------------------------------------------------------------   
                                                        
        
  * Wall St ends down but off lows as bond prices gain      
  * Oil ends up as Canada floods threaten US imports       
  * Gold down 1 pct on China fears, Wall St margin calls  
  * Copper hits three-year low on dollar, China crunch   
    
    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 Lincoln Feast)

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