<div id="readability-page-1"><div> Australian shares traded in a narrow range on Wednesday, as weakness in banking stocks outweighed solid gains across most other sectors, while investors kept their risk appetite in check on waning expectations of additional monetary policy easing.The S&amp;P/ASX 200 index held its ground at 8,474.50, as of 2320 GMT, but still down around 7% since scoring an all-time high on October 21. The benchmark ended at a five-month low on Tuesday.The main index has been on a downtrend since the Reserve Bank of Australia kept interest rates steady earlier this month. An upbeat jobs report last week, coupled with a sticky inflation reading released ahead of the November rate decision, has reinforced expectations that the easing cycle is over. Financials touched their lowest point in nearly six months, heading for their seven consecutive sessions of losses, with top lender Commonwealth Bank of Australia falling 0.8%.CBA's stock hovered near seven-month lows after the lender flagging earlier this month that increased competition and lower interest rates would bite into its margins.The other &#34;Big Four&#34; banks traded lower between 0.6% and 0.9%.Technology stocks also weighed on the benchmark, hitting their lowest level since mid April. Accounting software maker Xero lost 0.5%.The sub-index tracked the selloff in its Wall Street peers overnight amid concerns of overvaluation in the sector as investors scrutinised for signs of the AI boom sustaining. Miners bucked the trend to rise nearly 1%, poised to snap a three-day losing streak, as iron ore prices rose on the back of resilient near-term demand in top metal consumer China. Sector majors BHP and Rio Tinto advanced 1.1% and 0.3%, respectively. Energy stocks added to the benchmark's gains, up 0.7%, after oil prices settled higher as Western sanctions on Russian oil flows weighed on supply expectations. Woodside Energy and Santos rose 1.1% and 0.3%, respectively. In New Zealand, the benchmark S&amp;P/NZX 50 index inched 0.2% higher to hit 13,373.62.</div></div>

Australian shares traded in a narrow range as banking sector weakness offset gains in other sectors. The S&P/ASX 200 index held steady but remains down 7% from its October high. Financials hit a six-month low, with Commonwealth Bank falling 0.8%. Technology stocks also declined, while miners and energy stocks rose. The S&P/NZX 50 index in New Zealand increased by 0.2%.

Australian shares range-bound as sector-wide strength counters banking slump