SYDNEY/WELLINGTON: Australian shares ended little changed on Wednesday after sliding over 1% in the session, as voting projections in the US presidential election showed a close race between Republican Donald Trump and his Democratic rival Joe Biden.
The S&P/ASX 200 index closed down 0.1%, or 4.3 points, to 6,062.10, after gaining 1.9% in the previous session.
Shares somewhat tracked a rebound in US stock futures, which became positive after having swung wildly earlier in the day as votes were being counted, the final outcome of which could still take days to determine.
The metals and mining index declined 1.4%, with the world’s fourth biggest iron ore miner Fortescue Metals Group declining 4.3%, leading losses.
Larger rivals Rio Tinto and BHP Group slumped 1% and 2%, respectively.
Financial stocks slid 1% to also drag the benchmark.
Shares of Commonwealth Bank of Australia and Westpac Banking Corp fell as much as 2.8% each after announcing cuts to their home loans interest rates following the central bank’s move to trim cash rate to a record low on Tuesday.
Tech stocks tracked their Wall Street counterparts higher, with buy-now-pay-later bellwether Afterpay, that has a significant exposure to the US market, closing up 1.6%.
Healthcare index firmed slightly, boosted by a 10% jump in disinfectant device maker Nanosonics Ltd on strong trading update.
New Zealand’s benchmark S&P/NZX 50 index added 0.6%, or 69.62 points, to 12,199.93, led by real estate and healthcare firms.—Reuters
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