(Reuters) - Australian shares finished slightly higher on Wednesday, just above the 10-year peak scaled in the previous session as weaker material and energy stocks, weighed by softer oil and commodities prices, offset gains made in the financial sector.
The S&P/ASX 200 index <.AXJO> closed up 0.03 percent at 6016.3 points, following a 1 percent gain on Tuesday.
Losses were largely pared by winning financials stocks with Commonwealth Bank of Australia <CBA.AX> leading gainers as shares spiked on robust quarterly results and touched their highest in almost two months.
CBA's first-quarter cash profit jumped 10 percent, topping analyst expectations, as impairment charges fell to a record low and higher mortgage rates widened its home-lending margins.
Among the other "big-four" banks, Australia and New Zealand Banking Group <ANZ.AX> rose 0.3 percent, while Westpac Banking Corp <WBC.AX> gained 0.3 percent.
Meanwhile, mining majors BHP <BHP.AX> and South32 <S32.AX>, lost 1 percent and 1.6 percent, respectively.
Chinese iron ore futures fell nearly 1 percent after a five-day streak of gains, underlining demand concerns in the world's top consumer. BHP was also hit by Chinese crude imports in October slumping to their lowest in a year. [IRONORE/]
New Zealand ended down with materials and consumer staples stocks dragging down the index.
New Zealand's benchmark S&P/NZX 50 index <.NZ50> lost 0.1 percent or 9.25 points to finish the session at 8,040.42.
Shares of New Zealand's biggest construction company Fletcher Building Ltd <FBU.NZ> fell 1.3 percent to NZ$6.98, its lowest since February 2016 while A2 Milk <ATM.NZ> extended losses to fall 1.7 percent trailing global dairy prices that slumped to a seven-month low.
(Reporting by Devika Syamnath in Bengaluru; Editing by Sam Holmes)
