Corrected: Australian shares end flat as WiseTech slump offsets gains in banks, gold

A2 Milk

Mon 07:30

Corrects closing levels for WiseTech in bullet 1 and paragraph 3, for Woodside Energy and BHP in paragraph 7, Evolution Mining in paragraph 9, CBA and ANZ in paragraph 10
WiseTech Global slumps 18.4% on police probe into founder
Gold miners add 1.8%
Investors eye May inflation, due on Wednesday
By Anjali  Singh

    June 22 (Reuters) - Australian shares ended little changed on Monday as gains in banks and gold miners offset a sharp selloff in WiseTech Global, while investors awaited key inflation and labour market data due later this week.
The benchmark S&P/ASX 200 index .AXJO ended 0.1% lower at 8,816.10 points, after losing 0.9% on Friday.
WiseTech Global WTC.AX tumbled 18.4%, hitting its lowest level since July 2021 and weighing on the broader market.
Widespread media reports said that the Australian Federal Police were investigating its founder, Richard White, over claims he exploited a woman's immigration status for sex and provided false information on a visa application.
"With Richard White still highly influential as founder and chair, ongoing investigations are weighing on sentiment, driving a valuation discount until there’s clearer board stability and resolution," Junvum Kim, a senior sales trader at Saxo Asia Pacific, said.
Technology stocks .AXIJ bore the brunt of WiseTech's selloff, with the sub-index falling 4.2% for its steepest intraday decline since April 9.
Energy stocks .AXEJ lost 0.4%, led by a 0.9% drop in Woodside Energy, while miners .AXMM slipped 0.6% as sector heavyweight BHP Group BHP.AX fell 1.7%.
Bucking the trend, gold miners .AXGD advanced 1.8%, tracking a rebound in bullion. GOL/
Northern Star Resources NST.AX and Evolution Mining EVN.AX added 1.6% and 3.4%.
Financials .AXFJ lent further support to the index, rising 0.5%, with Commonwealth Bank of Australia CBA.AX and ANZ Group ANZ.AX both adding 0.6%.
Investors would also be looking at monthly inflation data due on Wednesday, which Westpac analysts expect to fall in May.
Last week, Australia's central bank held its cash rate steady, but warned it might yet hike again if needed to control inflation.
New Zealand's benchmark S&P/NZX 50 index .NZ50 fell 0.4% to 13,446.05 points.
Shares of a2 Milk ATM.NZ rose as much as 11.1% to a three-week high after receiving approval in China to convert two infant milk formula registrations into its own brands. 

 (Reporting by Anjali Singh in Bengaluru; Editing by Nivedita Bhattacharjee)
 ((anjali.singh2@thomsonreuters.com;))