Australian shares were little changed on Wednesday morning, hovering around 8,810 after a modest decline in the previous session. Investors were focused on upcoming testimony from Reserve Bank Governor Michele Bullock and other policymakers before lawmakers on Friday, as well as the release of Australia’s flash October PMI data later in the week. Sentiment was also tempered by a mixed overnight performance on Wall Street.
Sector moves were broadly offsetting. Gains in communication services, healthcare, and commercial services largely counterbalanced declines in logistics, industrial services, and energy-related stocks. Financials underpinned the market, with the four major banks rising between 0.6% and 1.2%.
Notable outperformers included Transurban Group, up 1.8%, Pro Medicus, which gained 1.5%, and Brambles Ltd., ahead 1.2%. On the downside, heavyweight miner BHP Group slipped 1.3%, while Fortescue lost 1.0%. Sigma Healthcare dropped 3.2%, and Codan Ltd. fell 1.6%.
