Australian shares ended almost flat Thursday, slightly backing off from a nearly 5-year high hit earlier in the session, as a fall in Chinese producer prices prompted investor concern about subdued demand in Australia's biggest export market. The S&P/ASX 200 index dropped 1.4 points to 5,198.4, according to the latest data. The benchmark jumped 1.1 percent on Wednesday, buoyed by better-than-expected trade data from China which boosted prices of base metals.
On the local front, Australian employment surged by 50,100 in April, a resoundingly upbeat report which contrasted with the Reserve Bank of Australia's (RBA) decision to cut interest rates to a record low of 2.75 percent this week. Global miner BHP Billiton Ltd added 0.7 percent, while rival Rio Tinto Ltd lost 1.2 percent. New Zealand's benchmark NZX 50 index ended nearly flat at 4,639.3, shedding 0.9 point, just slightly shy of an all-time high hit in the previous session.
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