The Australian share market has coasted to a flat close as investors sat on the sidelines ahead of key economic data due out of China. The benchmark S&P/ASX200 index closed up 4.6 points, or 0.1 per cent, at 4,745.9 points, while the broader All Ordinaries index gained 2.5 points, or 0.05 per cent, at 4,830 points. On the ASX 24 at 1615, the December share price index futures contract was down three points at 4,749 points, with about 30,000 contracts traded. Overall the banks were mostly stronger, while miners lost ground. Commonwealth Bank gained 35 cents at $50.59, Westpac rose 28 cents at $22.57, National Australia Bank firmed 22 cents at $24.22 and ANZ was up 18 cents at $23.83. Macquarie Group closed 15 cents higher, at $36.79.

Among the big miners, BHP Billiton was flat at $45.44 and Rio Tinto was down 58 cents at $87.36. Gold producer Newcrest closed down 44 cents, more than one per cent, at $40.24, despite a small rise in gold prices. The spot gold was trading at $1,390.30 per fine ounce, up $2.45 from Thursday's close of $1,387.85 per ounce. Energy stocks were mainly stronger though, reflecting growing strength in oil prices. Woodside Petroleum rose five cents to $43.00 and Oil Search gained one cent, at $7.01. Gas specialist Santos put on nine cents to close at $12.54, while Origin Energy was up 20 cents, or 1.2 per cent, at $16.61. The Australia Pacific LNG (APLNG) joint venture 50 per cent owned by Origin Energy on Friday said a comprehensive investigation had given water produced at its coal seam gas project the all clear. Beach Energy gained nearly 10 per cent after good drilling results, rising seven cents to end at 78 cents. Shares in Mirvac Group weakened 0.5 cents, at $1.265. The property developer on Friday said it would turn Sydney's Harold Park Paceway into a residential development with revenues of more than $1 billion.

Among the retailers, Coles owner Wesfarmers dropped 36 cents to $31.64, while Woolworths gained 20 cents, at $26.34. For the department stores, Myer was down three cents at $3.47, while David Jones fell four cents at $4.28 and Harvey Norman was flat at $2.96. Gondwana Resources was the most traded stock, and highest rising stock on the market, 60 per cent, after announcing drilling results. Gondwana ended 0.6 cents higher at 1.6 cents. Swish Group Ltd, which specialises in producing digital entertainment for public spaces, was the worst performing stock, off 50 per cent at 0.1 cents. Preliminary national turnover was 2.81 billion shares worth $5.44 billion, with 480 stocks up, 624 down and 382 unchanged.

The Australian dollar recovered much of an overnight decline in Asia trade Friday, helped by soaring Chinese exports and imports. Australian bonds moved higher on both ends of the curve, denting a December slide, although strategists expect Friday's move will be short lived. In late day trading, China's headlines dominated the action on trading desks as the country's exports and imports soared to records in November, a positive sign for the global economy. The Australian dollar traded at $0.9850, down from $0.9876 late Thursday. Against the Japanese yen, the currency traded at 82.435, down from 82.725.