Aust stocks unchanged at noon
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The Australian stock market gave up modest early gains to sit flat despite record highs posted on Wall Street as investors sat on their hands ahead of a midday data dump from China.
At the 1205 AEST official market open, the benchmark S&P/ASX200 index edged 0.06% lower to 4,970.7 points, while the broader All Ordinaries index lost 0.04%, to 4,955.5 points.
IG market analyst Stan Shamu said the key releases out of China were likely to keep markets relatively sidelined heading to the data.
On the Australia the market on Friday, strength in the resources sector pushed shares higher, although the market lost some ground after China's finance minister lowered expectations for the country's economic growth.
The S&P/ASX200 index passed 5,000 points in morning trade, as the market followed a positive lead from Wall Street early.
The benchmark S&P/ASX200 index was up 8.2 points, or 0.17%, at 4,973.9 points, while the broader All Ordinaries index was up 10.6 points, or 0.22%, to 4,957.5 points.
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