Aussie Shares End Flat as Investors Wait on Central Banks

Australian shares closed flat on Monday after initially rising due to concerns over Middle East attacks and potential interest rate hikes from major central banks.

The S&P/ASX 200 index gained just 8.7 points, or 0.1%, to finish at 8,749.9, while the broader All Ordinaries added only 3.7 points, or 0.04%, to reach 8,923.9.

The mining sector was a drag on the market as metals prices declined and crude oil prices increased amid ongoing attacks on oil tankers and a Houthi drone strike on a Saudi oil pipeline.

Investors are bracing for significant moves from the US Federal Reserve and Bank of Japan, which are expected to raise their funding and policy rates in response to inflationary pressures and a soft yen in Japan's case.