SYDNEY: Australian shares ended flat on Thursday as losses in the technology and healthcare stocks countered gains in the commodity stocks, while expectations of an early rate cut were dampened by the local central bank’s warning on sticky inflation.
The S&P/ASX 200 index was largely unchanged at 7,769.4 points at the close of trade. The benchmark fell 0.1% on Wednesday.
The Reserve Bank of Australia on Tuesday kept interest rates unchanged at a 12-year high as inflation remained above its target band, prompting concerns that a rate hike might be on the cards if inflationary pressures persist.
“The path ahead for the stock markets appears increasingly blurred as traders await fresh signals from both the economic and monetary fronts,” Hebe Chen, a market analyst at IG said.
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