Australia shares flat as losses in banks, tech stocks offset miners' gains

Australian shares were flat on Thursday, as losses in banks and technology stocks offset advances made by heavyweight miners on the back of higher commodity prices.

The S&P/ASX 200 index was flat at 7,091.50 as of 0030 GMT, after advancing about 0.2% earlier in the day. It ended at a 14-month high of 7,095.8 on Wednesday.

Heavyweight miners rose 2.2% to their highest in nearly 13 years, after copper hit a fresh 10-year high overnight on signs of recovery in major economies, raising hopes of increased demand.

Global mining giants BHP Group and Rio Tinto jumped as much as 3.2% and 2.2%, respectively, with BHP being among the top three gainers in the benchmark.

Energy stocks rose about 1%, with Whitehaven Coal and Worley gaining 3.1% and 2.2%?, respectively.

Tech stocks, however, tracked overnight Nasdaq Composite losses, slipping as much as 1.7%, and falling for a fifth consecutive session.

Buy-now-pay-later giant Afterpay also declined for a fifth straight session, losing as much as 3.2%, while WiseTech Global fell 1.6%.

Banks lost more than 0.5%, with all the "Big Four" banks trading in red.

The country's No. 3 lender National Australia Bank fell about 2%, despite reporting a jump in first-half profit, doubling its dividend and promising higher capital returns.

Across the Tasman Sea, New Zealand's benchmark S&P/NZX 50 index fell as much as 0.7% to 12,759.5.

The top percentage losers were Fisher & Paykel Healthcare Corp, down 3%, followed by Meridian Energy and Skellerup Holdings losing 1.8% each.

Dairy giant Fonterra laid out plans to overhaul its capital structure and allow farmers easier entry to the cooperative in a move to firm up its financial future. Its shares are halted till Friday.

In other markets, Japan's Nikkei was up 1.22% at 29,163.77, while S&P 500 E-minis futures edged down 0.01%.