Shares also showed little reaction to the economy's March trade surplus of A$731 million, which missed forecasts for a A$1.2 billion surplus.
Read MoreA fight for Aussie iron ore assets may be under way
Department store David Jones inched up 0.2 percent after reporting a 4.1 percent rise in third-quarter sales from the previous quarter.
Lynas slumped 9 percent after saying it was looking to raise raise up to $40 million from investors.
China's benchmark Shanghai Composite pared gains in afternoon trade, dragged down by weakness in real estate developers amid fears of a correction in the property market. Poly Real Estate eased 1.3 percent and Gemdale lost over 2 percent.
Still, the benchmark index managed to post a second straight day of gains.
Railway shares rose after local media reported plans of government-financed rail projects. The optimism also comes as Premier Li Keqiang promotes high-speed railway technology during his visit to Africa. China Railway Construction jumped 0.8 percent and China South Locomotive & Rolling rallied 1.4 percent.
Read MoreChina imposes new limits on foreign dairy imports
Emerging markets higher
Indian shares added 0.3 percent, heading for a second consecutive session of gains on strong foreign investor buying. Elsewhere, both Indonesia's Jakarta Composite and Philippine shares were flat.