The Australian stock market opened flat after Wall Street snapped a three-day streak of closing record highs, with cautious investors waiting for Ben Bernanke's testimony to Congress.
inched to a flat finish for the second straight session amid subdued trade across Asian markets, with the latest minutes from the Reserve Bank of Australia surprising traders with their lack of urgency on another rate cut.
At the 1015 AEST official market open close the benchmark S&P/ASX200 index fell 0.1% to 4981 points and the broader All Ordinaries index shed 0.12% to 4962.5 points.
United States stocks ended a three-day streak of records as investors looked ahead to testimony on Wednesday from Federal Reserve Chairman Ben Bernanke.
At the closing bell, the Dow Jones Industrial Average fell 0.21% to 15,451.93.
The broad-based S&P 500 gave up 6.24 (0.37%) to 1,676.26. Both the Dow and the S&P 500 had posted three straight days of record highs before Tuesday.