Australian shares closed flat with a positive bias on Friday as investors reacted to a media report that OpenAI's initial public offering could be delayed.
The S&P/ASX 200 Index was little changed to close at 8,764.20.
Technology shares retreated after a sell-off in Apple shares after the technology giant disclosed price increases, as the prices of memory and storage chips rocketed, as well as a report that OpenAI is mulling a delay to its IPO until next year.
Brent crude oil futures were trading around $73 per barrel. Meanwhile, gold steadied around $4,000 per ounce.
On the domestic front, Westpac said there is around a one-in-four probability of an economic contraction in the June quarter in Australia, based on historical patterns and an estimated 10% chance of a negative quarter in the September quarter.
The Westpac-Now indicator projected gross domestic product (GDP) growth of around 0.2% on a quarterly basis in the June quarter, with a range of 0.16% contraction to 0.4% growth.
In company news, 4DMedical (ASX:4DX) secured Therapeutic Goods Administration (TGA) approval and inclusion on the Australian Register of Therapeutic Goods for its non-contrast ventilation-perfusion imaging software CT:VQ, enabling commercial use across Australia.
HMC Capital (ASX:HMC) confirmed that all conditions precedent for its strategic partnership with KKR in the HMC Energy Platform have been satisfied, including approvals from the Australian Competition and Consumer Commission and the Foreign Investment Review Board, with completion expected around June 30.
Lastly, BHP Group (ASX:BHP) appointed Edgar Basto as chief enterprise performance officer, effective Sept. 1. Basto is currently serving as the firm's chief operating officer.