The Australian finished Monday's session little changed, with energy and mining stocks leading declines amid weaker commodity prices.
The benchmark S&P/ASX 200 Index added just 2.1 points to 8,423.
The energy sector emerged as the worst performer, weighed down by falling oil prices last week, after Saudi Arabia announced larger-than-expected crude price reductions for Asia, coupled with concerns over instability following the Syrian regime's overthrow.
Key players Woodside Energy and Santos recorded losses of 1.1% and 0.8%, respectively.
Mining stocks also struggled as iron ore prices fell over 1% in Singapore before recovering slightly. Fortescue Metals dropped 1.2%, while BHP lost 0.3% and Rio Tinto dipped 0.2%.
Investors are closely watching the Reserve Bank of Australia (RBA), with a cash rate decision expected on Tuesday. Markets anticipate the RBA will hold rates steady.
ANZ fell 3.6% after the bank announced the appointment of Nuno Matos as its new CEO, effective July 3, 2025. Matos, formerly with HSBC, will replace retiring CEO Shayne Elliott, who served nine years in the role.
GQG Partners surged 6.5% following a report of increased funds under management in November. The company also announced the termination of its buyback program due to uncertainties in U.S. tax treatments for on-market buybacks.
On the bond markets, 10-year and 2-year rates were at 4.205% and 3.851%, respectively.