The Australian stock market is trimming its early gains in mid-market moves on Wednesday, but extending the gains in the previous two sessions, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 staying above the 8,750 level, with gains in mining stocks partially offset by weakness in energy and technology stocks.
The benchmark S&P/ASX 200 Index is gaining 3.50 points or 0.04 percent to 8,761.30, after touching a high of 8,791.70 earlier. The broader All Ordinaries Index is up 5.20 points or 0.06 percent to 8,956.20. Australian stocks ended modestly higher on Tuesday.
Among major miners, BHP Group is gaining almost 2 percent and Rio Tinto is adding almost 1 percent, while Fortescue and Mineral Resources are up more than 1 percent each.
Oil stocks are mostly lower. Origin Energy, Beach energy, Woodside Energy and Santos are all losing almost 2 percent each.
In the tech space, Afterpay owner Block is edging down 0.4 percent, Xero is declining almost 2 percent and WiseTech Global is down almost 1 percent, while Zip is gaining more than 1 percent. Appen is flat.
Among the big four banks, Commonwealth Bank, ANZ Banking and Westpac are edging down 0.2 to 0.5 p...