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Nov 16 (Reuters) - Australian shares shed gains on Wednesday to end flat following disappointing wage growth data, with stronger financials and energy shares offsetting losses in materials.
Australian wages grew at their slowest pace on record last quarter, challenging policymakers' hopes that inflation had finally bottomed out. S&P/ASX 200 index .AXJO eked out marginal gains to settle 0.03 percent, or 1.49 points, higher at 5,327.7.
Shares of large cap oil companies such as Woodside Petroleum WPL.AX and Oil Search OSH.AX rose 2.5 to 3.8 percent, respectively, led by higher crude oil prices.
Mining giants BHP Billiton (LON:BLT) BHP.AX , Rio Tinto (LON:RIO) RIO.AX and Fortescue Metals Group FMG.AX weakened as declines in copper and iron ore futures led commodities prices lower.
A stronger bullion price, however, lifted Newcrest Mining NCM.AX and OceanaGold Mining OGC.AX 2.5 percent and 3.1 percent respectively. The gold index .AXGD rose 2.7 percent for a second straight session.
Forex services provider Ozforex OFX.AX was the biggest gainer on the index.
New Zealand's benchmark S&P/NZX 50 index .NZ50 was up for a third straight session, rising 0.8 percent or 54.15 points to finish trading at 6,824.6.
Utilities and health care outperformed other sectors. Retirement homes operator Ryman Healthcare RYM.NZ rose 2.02 percent.
Oil refiner New Zealand Refining Co NZR.NZ was the biggest percentage gainer on the index, up 4.8 percent. O/R
The world's biggest dairy exporter, Fonterra FCG.NZ rose 0.3 percent after international milk prices rose and volumes dropped in its second auction this month.
Auckland International Airport AIA.NZ was the biggest loser in New Zealan, losing 1.48 percent.