Asian stocks closed mixed on Wednesday, mostly on thin volumes as traders stayed away on the sidelines ahead of Christmas holidays. Most of the markets in the region closed early today.

In the Australian market, financials stocks traded weak, while materials shares found some support.

The benchmark S&P/ASX 200 index settled down by 33 points or 0.38% at 8,762.70. The broader All Ordinaries index closed lower by 27.20 points or 0.3% at 9,069.00.

Treasury Wine, PLS Group, Linontown, Lendlease, Capston Copper and Nickel Industries posted strong gains.

Commonwealth Bank of Australia, Westpac Banking Corporation, ANZ Group Holdings, CSL and National Australia Bank closed weak.

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