Aust stocks close flat

Local market recovers morning losses as US debt ceiling deadline approaches.

The Australian stock market recovered morning losses to close flat after speculation swirled about the United States political impasse, with the clock ticking until the United States debt ceiling deadline. 

At the 1615 AEDT official market close, the benchmark S&P/ASX200 index inched up 0.07% to 5,262.9 points, while the broader All Ordinaries index edged 0.1% higher to 5,264.4 points.

IG analyst Stan Shamu said Asian trade has been choppy, with investors on headline watch.

"There has certainly been a lot of back and forth among US politicians," Mr Shamu said.