Australia shares end volatile day flat

Tue Jan 22, 2013 12:18am EST

(Updates to close)
    SYDNEY, Jan 22 (Reuters) - Australian shares ended a
volatile trading day flat, retreating from a fresh 20-month high
hit earlier on Tuesday with the Bank of Japan's asset buying
plans to stimulate the economy failing to bolster investor
confidence. 
    The Bank of Japan doubled its inflation target to 2 percent
and eased monetary policy further, a widely expected move in
response to relentless political pressure for bolder action to
pull the country out of deflation. 
     The S&P/ASX 200 index was 1.6 points higher at
4,779.1 according to latest data, after peaking at 4,801.7
during trade. 
    New Zealand's benchmark NZX 50 index also finished
flat, up 1.9 points to 4,187.1.


 (Reporting by Thuy Ong; Editing by Jeremy Laurence)
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