The Australian share market has opened flat after a media report suggested US-Chinese trade talks had broken down.
The benchmark S&P/ASX200 index was down 1.2 points, or 0.02 per cent, to 6,545.5 points at 1030 AEDT on Thursday, while the broader All Ordinaries was down 2.3 points, or 0.03 per cent, to 6,664.7 points.
The futures market had pointed to a local bounce but dropped sharply just before the open after the Hong Kong newspaper report, which also prompted a spike in spot gold prices.
The South China Morning Post cited sources as saying no progress had been made in US-Chinese talks and that Vice Premier Liu He’s delegation would leave Washington DC on Thursday, a day earlier than planned.
ASX property trusts had the steepest fall in the first half hour of trading, sliding 0.76 per cent, while the industrial sector led gainers with a 0.42 per cent rise.
Mirvac dropped 1.32 per cent as GPT and Stockland lost 1.0 per cent each and Charter Hall Group slid 1.92 per cent.
The big four banks were mixed, with ANZ up 0.15 per cent to $27.13, Commonwealth down 0.05 per cent to $78.14, NAB up 0.12 per cent to $28.095, and Westpac up 0.33 per cent at $28.525.
Bendigo and Adelaide Bank was down 0.05 per cent, Bank of Queensland was down 0.10 per cent and Macquarie Group was up 0.31 per cent.
Mining giant BHP was down 0.11 per cent to $35.09, Rio Tinto was up 0.08 per cent to $87.82 and Fortescue Metals was down 2.22 per cent to $8.37.
On Wall Street overnight, the Dow Jones Industrial Average was up 0.70 per cent, the S&P 500 was up 0.91 per cent and the tech-heavy Nasdaq Composite was up 1.02 per cent.
The Aussie dollar is buying 67.15 US cents from 67.38 US cents on Wednesday.
AAP
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