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Australian shares pared early losses to finish unchanged on Wednesday after a late rally in industrials and telecom shares, but weakness in financial and consumer staples sectors capped the gains.
Sentiment was cautious as investors awaited a US Federal Reserve monetary policy statement later in the global day.
Iron ore producer Fortescue plunged after scrapping a $2.5-billion bond issue while energy-related shares also fell.
The S&P/ASX 200 index closed at 5,842.3 points, after rising 0.8 per cent on Tuesday.
New Zealand’s benchmark NZX 50 index ended down 1 per cent or 58.74 points to finish the session at 5,846.66.
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