(Reuters) - Australian shares gained for a second consecutive session on Wednesday, building on the previous day's rally driven by hopes of more stimulus measures from its biggest trading partner China.
The S&P/ASX 200 index <.AXJO> firmed 0.4 percent to 5,835.2 at the close of trade, its highest close since Nov. 12. The benchmark had risen 0.7 percent on Tuesday.
The session's gains, however, were curbed as investors took to the sidelines after British lawmakers trounced Prime Minister Theresa May's deal to withdraw Britain from the European Union.
Investors will turn their attention to a confidence vote on May's government by lawmakers, scheduled later in the day.
May's defeat overnight triggered political upheaval that could lead to a disorderly exit from the European Union on March 29 or even to a reversal of the 2016 decision to leave.
Financial stocks <.AXFJ>, the Australian benchmark's largest constituents, rose 0.6 percent, lifted by lenders Westpac Banking Corp <WBC.AX> and Australia and New Zealand Banking Group <ANZ.AX>, which closed 0.9 percent and 0.8 percent higher, respectively.
Aussie technology stocks <.AXIJ> climbed 1.7 percent to a six-week high, tracking a surge in Wall Street peers after streaming service Netflix Inc <NFLX.O> announced plans to raise fees for U.S. subscribers. [.N]
Data services provider Appen Ltd <APX.AX> was the top percentage gainer among tech stocks in the benchmark, closing 4.4 percent higher, while software maker WiseTech Global <WTC.AX> finished up 3.5 percent.
Energy stocks <.AXEJ> also lent support with a 0.5 percent gain, helped by strength in crude oil prices.
Oil prices were steady as signs of a global economic slowdown were countered by OPEC-led supply cuts which helped support Brent crude futures above $60 per barrel.[O/R]
Energy services firm WorleyParsons <WOR.AX> topped the gainers in the energy sub-index, adding more than 3 percent.
Losses in metals and mining stocks <.AXMM> capped broader market gains, with global mining giants BHP Group <BHP.AX> and Rio Tinto <RIO.AX> losing 0.4 percent and 0.5 percent, respectively.
Gold stocks <.AXGD> dropped 1.5 percent, snapping two sessions of gains.
Major gold producers Newcrest Mining <NCM.AX> and Evolution Mining <EVN.AX> closed 1.5 percent and 1 percent lower, respectively.
Elsewhere, New Zealand's benchmark S&P/NZX 50 index <.NZ50> closed 0.7 percent higher to finish the session at 9,027.44.
Dairy company A2 Milk <ATM.NZ> gained 3.9 percent to a near 4-month high, while Synlait Milk <SML.NZ> strengthened 3.3 percent.
(Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Jacqueline Wong)
