The Aussie market is little changed heading into the afternoon session, currently trading just six points underwater.

Local investors are seemingly happy sitting on their hands for the moment, with little in the way of leads from international markets or major announcements providing any incentive to do otherwise.

Unsurprisingly, the sectors are evenly balanced with telcos and materials leading the way and utilities and energy suffering the heaviest declines.

In company news, Telecom Corporation (TEL) is trading more than 4% with shareholders seemingly unhappy with the proposed share allocation stemming from the demerger.

Around the region, Asian markets are mixed; the Hang Seng is up 0.5% whilst the Nikkei is down 0.5%.