ASX flat as big miners rally

The Australian sharemarket has seesawed in early trading, tracking modest losses in New York as investors hit pause after a rapid succession of record highs.
The benchmark S&P/ASX 200 index dipped in the opening minutes but had risen 3.6 points, or less than 0.1 per cent, to 8768.1 as of 10.13am on Thursday AEST , as gains in the big miners offset losses in eight out the 11 sectors.
This came after the S&P 500 slipped 0.3 per cent overnight as investors continued to take profits after Federal Reserve chairman Jerome Powell earlier in the week failed to openly green-light further rate cuts, saying near-term risks to inflation were "tilted to the upside".
"Wall Street dipped again as enthusiasm about further rate cuts from the US Federal Reserve waned," said Capital.com market analyst Kyle Rodda.
"Some measured language from Fed officials this week ... has sucked the momentum out of the equity market rally, which is well overdue for a little pullback."
On the ASX, index heavyweight BHP jumped 2.7 per cent while Rio Tinto rose 3.5 per cent, offsetting losses in real estate, healthcare and consumer discretionary.

Sumber : AFR