Australia: Shares trim gains, NZ stocks scale fresh peak

[SYDNEY] Australian shares pared early gains on Wednesday after banks took a breather, but natural resources held their ground.

The S&P/ASX 200 index ended flat at 5,242.3 points, not far from a recent one-month low of 5,162.7.

In contrast, New Zealand's benchmark NZX 50 index set a fresh record peak as soft jobs data and falling global dairy prices reinforced speculation for a December interest rate cut by the Reserve Bank of New Zealand.

The index ended the session 0.8 per cent higher or 49.24 points at 6,071.21.

REUTERS