Australian stock market closes flat

The Australian stock exchange market closed almost unchanged Wednesday as the S&P/ASX 200 rose 0. 4 of a point to 5,273.50 while the all ordinaries firmed 2.5 points to 5,224.9.

National market turnover was 1.43 billion shares worth 4.14 billion Australian dollars (3.18 billion U.S. dollars), with 568 stocks rising, 581 falling and 325 unchanged.

Among the banking stocks, National Australia Bank backtracked 13 cents to 37.24 dollars, Commonwealth Bank dipped 8 cents to 46. 55 dollars and Westpac lost 13 cents to 25.02 dollars. Only ANZ added 6 cents to 28.18 dollars.

In the resources sector, BHP Billiton surged 37 cents to 30.75 dollars, Rio Tinto soared 1.74 dollars to 83.29 dollars.

Telecommunications giant Telstra sold off 8 cents or 2 percent to 3.84 dollars.

In the media sector, News Corp slipped 9 cents to 23.99 dollars.

Source: Xinhua