<div id="readability-page-1"><div><div><div>Key points:<ul><li>ASX drops 0.4% in last session before break</li><li>Thin trade: volume about 40% of monthly avg</li><li>Banks snap 4-day winning run; sector looks fully priced</li><li>Miners hit record high; Rio peaks as copper tops $12k</li></ul></div>By Shruti AgarwalAustralian shares slipped on Wednesday as investors chose to book profits after a four-session rally, with thin holiday volumes and an early market close amplifying the move.The S&amp;P/ASX 200 index fell 0.4% to 8,762.70 in the last trading day of the week, with the market closed for holidays on Thursday and Friday. The benchmark, however, has risen 1.7% so far this month.Craig Sidney, a senior investment adviser at Shaw and Partners, attributed the weakness to the market's 2% advance in the last two days, compared with the S&amp;P 500's around 1% gain. The benchmark ran at roughly two-fifths of its monthly average volume, reflecting subdued activity typical of the holiday period.Financials fell 0.4%, snapping a four-day winning run that had been underpinned by bets that a higher-for-longer interest rate outlook would help protect banks' lending margins. The sector had surged 2.9% in the previous four sessions. After strong gains over the year, the sector appears to have little room left to run, according to Sidney, who noted banks look fully priced heading into 2026. The 'big four' banks have added between 5.5% and 28.5% year-to-date, with top lender CBA's run being the weakest.Healthcare stocks lost 1.6%, with CSL falling 2.4%. The sub-index's priciest stock has weighed on the sector throughout the year, down 37.6% so far. Miners were the only bright spot, rising 0.5% to hit a record high for a third consecutive session.Behemoth Rio Tinto rose 0.8% to touch a new peak as copper crossed the $12,000 mark on a weaker dollar and expectations of tighter supply. Gold stocks tracked bullion's record-breaking rally to hit another high. Meanwhile, consumer discretionary (.AXDJ) stocks and industrials (.AXNJ) fell 0.7% and 0.5%, respectively. Across the Tasman Sea, New Zealand's benchmark S&amp;P/NZX 50 index ended modestly higher at 13,529.06. The gauge has risen 0.3% so far this month after a fall in November. </div></div></div>

RTPPF

Australian shares fell 0.4% on Wednesday due to profit-taking after a four-session rally, with thin holiday volumes. The S&P/ASX 200 index closed at 8,762.70, with banks snapping a four-day winning streak and miners hitting record highs. Healthcare stocks dropped 1.6%, while Rio Tinto rose 0.8% as copper prices surged. The market is closed for holidays on Thursday and Friday.

Australian shares end holiday-shortened week lower on profit-taking