Australia's share market has given back an early lead after an inflation surprise had markets betting on a Melbourne Cup interest rate hike.
The S&P/ASX 200 fell 2.8 points on Wednesday, down 0.03% to 8847.3, as the broader All Ordinaries rose 2.6 points, or 0.03%, to 8971.4.
Inflation shifts rate expectations
A morning rally for the top 200 reversed after higher-than-expected September inflation figures prompted interest rate markets to brace for an expected Reserve Bank rate increase on Tuesday.
Miners and tech limit losses
Rate-sensitive sectors such as consumer cyclicals, industrials and utilities sold off, while rebounding miners and tech stocks helped limit the falls.
The Australian dollar is buying 70.33 US cents, up from 70.22 US cents on Tuesday at 5pm
