SYDNEY: Australian shares snapped two straight sessions of gains on Wednesday as risk sentiment was hit by the rising coronavirus death toll in the country's second-most populous state, although additional stimulus and hopes for a local vaccine capped losses.
Victoria recorded its second-deadliest Covid-19 daily death toll on Wednesday, while the state government's intention to extend a state of emergency by another year also weighed on the market.
The S&P/ASX 200 index settled 0.7% lower at 6,116.4 after declining 1.3% in intraday trade.
Financials led the decline on the benchmark, with top lenders Commonwealth Bank of Australia and Westpac Banking Corp easing 1.1% and 1.3%, respectively.
Saracen Mineral Holdings lost 2.3% and Evolution Mining gave up 1.4% as the gold sub-index slipped for a sixth straight session.
BHP Group and Rio Tinto were the top losers among heavyweight miners.
New Zealand's benchmark S&P/NZX 50 index ended 0.3% higher at 12,031.51, marking its fourth straight session of gains, with Meridian Energy up 1.6% while Fisher & Paykel Healthcare Corp added 2%.
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