Wednesday, 05 June 2013 04:38
SYDNEY: Australian shares are expected to open weaker after losses on Wall Street and on concerns about Chinese demand for metals, with GDP data expected to show a slowdown in mining investment kept growth below potential at the start of the year.
Local share price index futures fell 0.4 percent to 4,879, a 21.8-point discount to the underlying S&P/ASX 200 index close. The benchmark rose 0.3 percent on Tuesday.
New Zealand's benchmark NZX 50 index fell 0.2 percent in early trade.
US stocks fell on Tuesday as investors sold growth-oriented sectors on speculation the Federal Reserve may slow the pace of its economic stimulus.
Growth in China's steel demand is expected to slow to a near-standstill in 2013, the head of the country's biggest listed steelmaker said on Tuesday, adding to pressure on iron ore prices after a 17 percent fall in May.
Copper rose as investors took account of a prolonged shutdown at the ...