Australian shares flat as mining gains counter consumer, tech losses
Australian shares were trading flat in early deals on Monday, as gains in heavyweight miners on the back of strong metal prices countered losses in consumer discretionary and tech stocks.
The S&P/ASX 200 index was nearly unchanged at 8 726.70, as of 0020 GMT. The benchmark gained 0.2% on Friday. It rose 6.8% in 2025 in its third straight annual gain.
Miners climbed 1% on Monday, boosted by surging base metal prices. Nickel climbed to a 14-month peak on Friday as a delay in approval for Vale Indonesia's annual production plan stoked expectations that the supply glut might be easing, while copper hit a record high.
Mining giants BHP Group and Rio Tinto gained 0.9% and 1.3%, respectively, on Monday.
Gold stocks rose 0.3% as bullion prices climbed 1%.
Energy stocks advanced 1.5%, with oil majors Santos and Woodside gaining 0.8% each.
Oil prices fell in early Asian trade as ample global supply outweighed concerns about potential disruptions in shipments due to a political upheaval in OPEC member Venezuela.
The US snatched Venezuelan President Nicolas Maduro from Caracas at the weekend and US President Donald Trump said Washington would take control of the oil-producing nation.
Rate-sensitive consumer discretionary stocks were the weakest performers, shedding 1.3%. Tech stocks fell 2.1% and real estate stocks slipped 0.7%. Financials inched down 0.2%.
Investors are now awaiting the monthly consumer price data for November on Wednesday, with forecasts showing a slight slowdown to 3.7% from 3.8% the month before.
Japan's Nikkei was up 2.01%, while S&P 500 E-minis futures were up 0.07%.
New Zealand's benchmark S&P/NZX 50 index inched up 0.3% to 13 592.99.
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