Australian shares struggled for direction on Wednesday as losses in financials countered gains in mining and energy stocks, with a subdued Wall Street session overnight also weighing on market sentiment.
The S&P/ASX 200 index was flat at 8,811.10 points, as of 2358 GMT. The benchmark rose 0.6% on Tuesday.
U.S. stocks ended lower overnight, led by a drop in financial shares as comments from JPMorgan executives added to worries about U.S. President Donald Trump's recent proposal for a cap on credit-card rates.
In Sydney, miners X hit a record high, rising 0.4%. Mining behemoths BHP and Rio Tinto gained 0.8% and 1.1%, respectively, even as iron ore and copper prices came under pressure on Tuesday.
Lynas Rare Earths rose for a third straight day, jumping 4.2% after Australia said on Monday it would initially prioritise antimony, gallium and rare earth elements in its A$1.2 billion critical minerals strategic reserve.
Energy stocks bounced back to rise 1.6%, tracking a surge in oil prices as the prospect of disruptions to Iranian crude exports overshadowed possible increased supply from Venezuela.
Santos (.STO.AX) rose 1.4% and Woodside Energy climbed 2.2%.
Consumer staples (. AXSJ ) advanced 0.8% and consumer discretionary stocks (. AXDJ ) gained 0.4%.
Among the laggards, financial stocks slipped 0.5% after a two-day rally. Commonwealth Bank of Australia, Westpac and NAB fell between 0.1% and 0.4%, while ANZ rose 0.2%.
Technology stocks X fell 0.2%, tracking a retreat in the tech-heavy Nasdaq.
Gold stocks retreated 0.4% after touching an all-time high in the previous session. However, with geopolitical and economic uncertainties boosting safe-haven demand, Sydney-listed gold producers have risen 4.7% so far this year, after more than doubling in 2025.
In New Zealand, the benchmark S&P/NZX 50 index inched up 0.1% to 13,666.41 points.

Sumber : Reuters