THE Australian share market has closed slightly lower as investors wait for an update on economic stimulus measures in the US from that country's top central banker.
A strong production report from BHP Billiton boosted sentiment in the resources sector, but that was offset by losses in other sectors.
Activity was muted as investors wait for Federal Reserve chairman Ben Bernanke's scheduled testimony to US congress in the early hours of Thursday, CMC Markets senior trader Tim Waterer said.
"Traders appear to have hit the snooze button on the Australian share market today, with the ASX200 index flat-lining ahead of the key Bernanke testimony," he said.
BHP's annual production report showed higher than expected output of iron ore, and that followed Rio Tinto's better than expected first half production report on Tuesday.
