News: PPT Australia shares end flat; Perpetual top loser on benchmark

	  ASX 200 benchmark extends five-day winning streak 

	  Financials log five days of consecutive wins 

	  Perpetual top loser on ASX 200 

Australian shares ended unchanged on Wednesday as local stocks pared gains after adding 1.4% on Tuesday as the Reserve Bank kept interest rates on hold and signalled inflation was still high, while fund manager Perpetual plunged 7% after private equity firm KKR said it would buy two of its units.

The S&P/ASX 200 benchmark index (xjo) closed 0.1% higher at 7,804.5 points, extending winning streak to five days. The benchmark rose 1.4% on Tuesday.

"There is some profit taking happening on the market following Tuesday's solid gains (including in financials)," Tim Waterer, chief market analyst at KCM Trade said.

The Reserve Bank of Australia's decision to hold cash rate at the "right level" of 4.35% boosted investor sentiments but concerns remained on the timeline for inflation to reach the target of 2%-3%.

After the upside CPI surprise in first quarter, a future rate hike can't be ruled out given the non-linear nature of inflation, Waterer added.

Financial services firm Perpetual (PPT) said that buyout giant KKR & Co KKR.N would acquire its wealth management and corporate trust businesses for A$2.18 billion ($1.43 billion). The Australian financial services firm's shares hit a five-month low on Wednesday.

On a five-day winning streak, rate-sensitive financials .AXFJ inched 0.2% higher with the country's top lender Commonwealth Bank of Australia (CBA) gaining 0.3%.

Meanwhile, fellow rate-dependent real estate stocks .AXRE extended gains to a fifth session to end 0.5% higher at one-month high.

Mirvac Group (MGR) gained 0.5% while Dexus (DXS) climbed 0.7%.

Behemoth miners .AXMM retreated 0.2%, snapping a four-day winning streak as iron ore futures slipped on high inventories at Chinese ports.

Giants BHP Group (BHP) , Rio Tinto (RIO) and Fortescue (FMG) all ended lower in the session.

Snapping a three-day winning streak, energy stocks .AXEJ edged lower while gold stocks .AXGD added 0.1%.

Losing for the third straight day, New Zealand's benchmark S&P/NZX 50 index (nz50) fell 0.2% to 11,782.89 points.

($1 = 1.5216 Australian dollars)