The sharemarket's week-long recovery faltered as regional markets weakened today, even as it hit a fresh three-week high during the session.
The benchmark S&P/ASX200 closed flat at 5013.5 points after rising to 5023 - its highest point since March 25. However, the index rose 2.5 per cent for the week, its first weekly gain in five weeks and its strongest weekly rise in the past nine months.
Reflecting some caution after such a strong recovery, defensive sectors including property and consumer staples outperformed cyclical sectors such as materials and industrials.
South Korea's KOSPI index fell 1.3 per cent today amid caution before the April 15 birth anniversary of North Korea founder Kim Il-sung, which was viewed as a possible date for Pyongyang to test fire its mid-range missiles, action that could heighten geopolitical tensions on the Korean Peninsula.
