Australian shares flat; New Zealand up

Australian shares ended relatively flat on Thursday with strong gains in mining stocks offsetting losses in financials hit by the US Federal Reserve's decision to abandon further rate hikes in 2019. Paring losses just before the bell, the S&P/ASX 200 index rose 0.03 percent or 1.9 points to 6,167.2 at the close of trade. The benchmark slipped 0.3 percent on Wednesday.
Financial stocks lost as much as 0.9 percent but pared losses to end 0.3 percent lower, tracking their US peers. US financials saw a sharp sell-off in the last hour of trade after the Fed decision. BHP Group and Rio Tinto rose 1.3 percent and 1.5 percent respectively, while Fortescue Metals Group bounced 2.6 percent. New Zealand's benchmark S&P/NZX 50 index rose 0.27 percent, or 25.61 points, to end at 9,461.31. Gaining stocks included dairy firms a2 Milk Company and Synlait Milk.