Australia’s share market has trimmed some early losses for a flat finish despite a drop in mining and tech stocks, as financials lifted ahead of US bank earnings later in the week.
The S&P/ASX200 rose 0.7 points on Tuesday, up 0.01 per cent, to 8783.9, as the broader All Ordinaries lost 15.5 points, or 0.17 per cent, to 8921.5.
The local market’s relative underexposure to advanced technology stocks helped it outperform most of its regional counterparts, with South Korea’s KOSPI tumbling more than six per cent and the NIKKEI down 1.2 per cent by 4pm AEDT.
Despite copper prices holding relatively steady, the repricing of AI optimism appeared to hit mega miners BHP and Rio Tinto, which tumbled along with lithium and rare earths producers such as Liontown, PLS and Lynas.
The Australian dollar is buying 69.60 US cents, down from 69.77 US cents on Monday at 5pm.
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