The share market finished flat as weaker oil and base metal prices dented the resource stocks.
The big miners were already weaker before Chinese data was released showing growth in the world’s second biggest economy slowed to 7.4 per cent in 2014, the most subdued pace in 24 years.
But Morgans senior private client adviser Bill Chatterton said the Chinese numbers did little to shock investors.
“Had the figure been dramatically less than that, then we would have had some much more serious moves,” he said, adding the miners mainly fell because of daily fluctuations in oil and copper prices.
The banking stocks, however, performed well as investment bank Macquarie Group gave the financial sector a boost for a second day running.
“Macquarie was a standout … that bounced up and the rest of the banks kind of went with that,” Mr Chatterton said.
Mining giant Rio Tinto shed 47 cents to $53.69 despite confirming it had lifted its iron ore sales by 17 per cent to a record 302.6 million tonnes in 2014 and increased production by 11 per cent to 295.4 million tonnes.
Global miner BHP Billiton was down 23 cents to $27.48, but Fortescue Metals was up five cents at $2.33.
Atlas Iron had lost one cent to 18 cents. The iron ore producer lifted production by 23 per cent during the December quarter but sold at a loss.
Oil and gas producer Woodside Petroleum had fallen $1.92, or 5.7 per cent, to $32.25, and Santos had lost 15 cents to $7.39.
Among the major banks, ANZ had lifted 23 cents at $31.51, Commonwealth Bank had climbed 40 cents at $83.50, Westpac had added 26 cents at $32.89, and National Australia Bank strengthened 24 cents to $33.56.
Macquarie Group ascended $1.55, or 2.7 per cent, to $59.80 a day after announcing that it was on track to post its biggest profit in eight years.
GUD Holdings, the owner of the kitchen appliances brand Sunbeam, added 38 cents, or 5.6 per cent, to $7.18 after it lifted its underlying first half profit by 16 per cent and said it was on track to meet its full year earnings guidance.
KEY FACTS
* At the close on Tuesday, the benchmark S&P/ASX200 index was down 1.4 points, or 0.03 per cent, at 5,307.7 points.
* The broader All Ordinaries index was down 2.2 points, or 0.04 per cent, at 5,286.8 points.
* The March share price index futures contract was nine points lower at 5,256 points, with 20,246 contracts traded.
* National turnover was 1.1 billion securities worth $3.5 billion.
