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Australia shares erase losses on upbeat trade, retail sales data
March 6, 2014 / 5:20 AM / in 4 years

Australia shares erase losses on upbeat trade, retail sales data

(Updates to close)

SYDNEY, March 6 (Reuters) - Australian shares finished flat on Thursday as upbeat retail sales and trade balance data helped the index recover from heavy losses in the morning, although investors remained cautious over developments in Ukraine.

The S&P/ASX 200 index ended just 0.3 point lower at 5,445.9, after hitting a session low of 5,422.7. The benchmark had gained 0.9 percent on Wednesday to close at its highest point since June 2008.

New Zealand’s benchmark NZX 50 index rose 0.8 percent to extend its rise to a new all-time high of 5,114.8, underpinned by an improving economy. (Reporting by Maggie Lu Yueyang; Editing by Chris Gallagher)

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