Australian shares end flat as miners counter energy, consumer losses
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Australian shares closed flat on Monday, with gains in iron ore miners countering losses in consumer discretionary and energy stocks in the market's thinnest trading session in more than a year. The S&P/ASX 200 index finished 0.8 points higher at 8,728.60, with volumes barely 0.7 times the 30-day average of 652 million shares. While the Australian market started the first full trading week of the year on a subdued note, equities across Asia soared, largely driven by artificial intelligence-related optimism, brushing aside concerns over the political upheaval in Venezuela. MSCI's broadest index of Asia-Pacific shares leapt 1.7% to a record high. Japan's Nikkei 225 jumped 2.8% to a near record high, while stocks in South Korea and Taiwan surged over 3% to fresh peaks. Australian shares failed to match that momentum, continuing a trend from last year, when the local market gained about 7%, but still lagged major glo...