<div id="readability-page-1"><div> Australian shares slipped on Wednesday as bank stocks fell after the central bank's latest meeting minutes, while miners limited losses on firmer commodity prices.The S&amp;P/ASX 200 index was down 0.3% at 8,765.50 points by 2322 GMT. The benchmark rose 1.1% on Tuesday.Minutes from the Reserve Bank of Australia's December meeting, released on Tuesday, showed policymakers had considered whether a rate hike would be needed in 2026, noting inflation risks had risen but that it would take &#34;a little&#34; time to assess them fully.RBA Governor Michele Bullock had already taken a hawkish turn at a post-meeting media conference, ruling out further rate cuts and warning hikes might be needed if inflation did not subside.Heavyweight financials fell 0.6% to ease from a one-month high, dragged by all the &#34;big four&#34; lenders that dropped between 0.3% and 0.8%.With valuations already stretched and among the highest in developed countries, Australian banks could face pressure from higher interest rates, which might curb lending volumes despite margin upside. The sub-index is set to gain more than 8% this year, compared to a 28% gain seen in 2024.Mining stocks , however, rose 0.4% to limit overall losses, as copper prices traded at record levels on speculative buying. Iron ore heavyweight Rio Tinto gained 0.9% to climb to a record peak. The Anglo-Australian miner has been looking towards shifting its focus to its copper business to capitalize on record-high prices amid the green energy transition.The sub-index was further helped by gold stocks , rising 0.3% after climbing as much as 1% to a record high, tracking bullion. Technology stocks retreated 0.7% to snap a four-session rally. Accounting software provider Xero was down 1.1%, while logistics software provider WiseTech Global slipped 0.8%.In New Zealand, the benchmark S&amp;P/NZX 50 index closed largely flat in a shortened session ahead of Christmas. </div></div>

Australian shares fell 0.3% as bank stocks dropped after the Reserve Bank of Australia's meeting minutes hinted at possible rate hikes in 2026. Heavyweight financials fell 0.6%, while miners rose 0.4% due to firmer commodity prices. Rio Tinto gained 0.9% amid record copper prices. Technology stocks retreated 0.7%, with Xero down 1.1% and WiseTech Global down 0.8%. The S&P/NZX 50 index in New Zealand closed flat.

Banks drag Australian shares lower; miners limit losses