Australian shares traded in a narrow range on Wednesday, as gains in energy stocks were offset by losses in the technology sector, with investors refraining from placing risky bets ahead of the local inflation print due later in the day.
The S&P/ASX 200 index was largely flat at 8,703.9 points by 0016 GMT. It had closed 0.1% higher on Tuesday.
The focus remains on the domestic quarterly inflation data, which will either make or break the case for an interest rate cut by the Reserve Bank of Australia next month.
Forecasts pointed to a 0.7% quarterly rise in the policy-relevant trimmed mean measure, slightly above the central bank’s expectations.
On the Sydney bourse, traders remained cautious, with technology stocks dipping about 0.6%, tracking overnight losses on Wall Street after some disappointing corporate earnings.
Logistics software maker WiseTech Global fell as much as 1.5%, while Xero shed about 1%.
Real estate stocks eased 0.2%, with sector major Goodman Group losing about 0.4%.
However, energy stocks rose 0.7%, mirroring a rise in oil prices as U.S. President Donald Trump ramped up pressure on Russia over its war in Ukraine and on hopes that a trade war between the U.S. and its key trading partners was easing.
Financials gained 0.2%, led by a 0.4% rise in the country’s largest lender, Commonwealth Bank of Australia.
Among individual companies, lithium miner Pilbara Minerals climbed as much as 3.9% after an upbeat fourth-quarter production update and a strong 2026 output forecast.
New Zealand’s benchmark S&P/NZX 50 index traded flat at 12,934.41 points.