Jan 6 Australian shares were flat on Friday as
investors took a cautious stance ahead of the closely-watched
U.S. jobs report due out later, with declines in materials
capping gains in industrials and telecom stocks.
The S&P/ASX 200 index ticked 0.1 percent higher, or
6.6 points to 5,759.9 by 0110 GMT, its highest since June 2015.
The index was poised for a third-straight weekly gain in
what would be its longest streak of weekly gains since July last
The market is bracing for Friday's U.S. non-farm payrolls
report in which economists expected jobs gains of 178,000 in
December, after the same gain in November.
"If they come out with really bad numbers then it is likely
that it will cause a bit of a panic in Australia because they
will think it is the end of the run," said Tony Cunningham from
Cunningham Peterson Sharbanee Securities.
Australian gold index rose after the yellow metal
climbed to its highest price in one month on Thursday.
Gold producer Newcrest Mining drove the gains,
advancing as much as 2.3 percent to hit a seven-week high.
Australian rubber products maker Ansell Ltd jumped
as much as 2.9 percent to touch its highest in 17 months.
Telecom giant Telstra Ltd extended gains into a
fourth-straight session, rising 0.9 percent to vault to a
Aconex Ltd and Transurban Group were the
other big gainers, rising 2.4 percent and 1.3 percent,
At the other end, materials was the biggest drag on the
index. Global miner Rio Tinto Ltd nudged lower 0.3
percent while South32 Ltd slipped 1.2 percent.
Amusement park owner Ardent Leisure slumped as much
as 6.7 percent to record its biggest intraday percentage loss in
more than two months, before paring some of the losses, after it
reported a sales drop following a fatal accident at its
Dreamworld theme park.
New Zealand's benchmark S&P/NZX 50 index inched
lower 0.1 percent, or 5.2 points, to 6,970.4 after rising to a
two-month high earlier in the session.
The index is poised to rise 1.3 percent this week.
Gains in utilities and telecom stocks were offset by
declines in industrials and healthcare.
Tegel Group Ltd and Sky Network Television Ltd
were among the top percentage gainers on the benchmark,
rising 1.4 percent and 1.5 percent respectively.
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(Reporting by Shashwat Pradhan; Additional reporting by Hanna
Paul in Bengaluru; Editing by Randy Fabi)