SYDNEY/WELLINGTON, Aug 26 (Reuters) - Australian shares dipped on Friday and looked set to end the week little changed following a subdued performance by Wall Street and as local earnings reports remained mixed.
But trade was cautious ahead of a speech by Federal Reserve Chair Janet Yellen later in the day.
Markets are hoping for some clarity on whether the Fed might hike interest rates in September or even December, but it is far from clear Yellen will oblige them. The subject of the speech is the Fed's policy toolkit and is expected to be longer term in outlook.
The S&P/ASX 200 index (xjo) was down a slim 0.2 percent, or 10.4 points, at midday at 5,531.5. For the week, the benchmark was up a bare 0.1 percent.
Among the gaggle of companies posting results, Star Entertainment Group Ltd (SGR) reporting 15 percent rise in full-year net profit, missing analysts' expectations even though revenue from wealthy Asian visitors hit a record.
The stock fell 3 percent in early trade, but later pared losses to be down 0.5 percent.
Travel agent Flight Centre Travel Group Ltd (FLT) gained 4 percent to a three-month high as brokers, Deutsche Bank and Bell Potter raise price targets.
Publishing group APN News & Media Ltd (APN) lost around 4 percent, and briefly touched a four-month trough, after reporting a net loss of A$256.9 million ($195.91 million).
Diversified retailer Super Retail Group (SUL) gained almost 3 percent after reporting higher sales and profits.
New Zealand's benchmark S&P/NZX 50 index (nz50) edged down 0.3 percent or 26.04 points to 7,401.24 on Friday. The index was poised for a weekly loss of 0.3 percent after two consecutive weeks of gains.
Air New Zealand (AIR) took an early dip after warning about increased competition and lower profit. However, it later recovered to trade up 0.9 percent thanks to bargain-hunting.
Pay TV company Sky TV (SKT) led gains, rising 2.5 percent, after full-year results showed revenue was better than expected.
Orion Healthcare (OHE) lost 2.7 percent while A2 Milk (ATM) fell 5.1 percent.
Z Energy (ZEL) lost 2.3 percent fell 2.3 percent while Fletcher Building (FBU) lost 1.3 percent.
