The S&P/ASX200 fell 8.6 points on Tuesday, down 0.10 per cent, to 8,717.1, as the broader All Ordinaries lost 9.6 points, or 0.11 per cent, to 9,022.4.
With only Wednesday's shortened session remaining in 2025, the top-200 is up 558 points, or 6.84 per cent, for the year.
Six of 11 local sectors ended the day higher, with energy stocks outperforming with a 0.8 per cent improvement, while weaker raw materials and real estate stocks dragged the bourse lower.
The heavyweight financials sector capped the broader losses with a 0.4 per cent boost, with help from advances from the banks and big insurers.
A one per cent dip in materials stocks came as investors took profits on gold and silver, after both metals smashed their previous record highs on Monday.
Gold miners were a sea of red as the precious metal slipped from $US4,550 ($A6,776) an ounce to $US4,375, dragging heavy-hitters Evolution and US-headquartered Newmont each more than 3.4 per cent lower.
Platinum also dipped after hitting a record high on Monday, dragging on Zimplats Holdings, which fell five per cent after rallying more than 40 per cent since mid-December.
Large cap miners were mixed, with BHP down 0.8 per cent to $45.10, while Rio Tinto and Fortescue edged 0.2 per cent higher after the two opted to switch the index they use to price iron ore shipments, as BHP's dispute with Beijing-backed buyer China Mineral Resources Group drags on.
Lithium producer Liontown fell more than four per cent, while competitor PLS Group, formerly Pilbara Minerals, slipped three per cent.
Energy stocks beat the other sectors, up 0.8 per cent as oil prices continued higher on rising Middle East tensions, deadlocked Russia-Ukraine peace talks and as China fired rockets towards Taiwan in war games simulating a blockade.
Santos and Woodside each traded more than 1.2 per cent higher, while coal producers were mixed and uranium stocks sold off for a third consecutive session.
The utilities sector fell 0.5 per cent, despite a 1.2 per cent boost for Origin, after its software investment, AI-powered utilities operating system, Kraken, was valued at $US8.7 billion ($A13 billion).
Origin, which owns more than one-fifth of Kraken, backed a $US1 billion capital raising and relinquished its Australian exclusivity, clearing the way for Kraken's separation from Octopus Energy expected in mid-2026.
The Australian dollar is buying 67.14 US cents, down slightly from 67.17 US cents on Monday at 5pm.
ON THE ASX:
* The S&P/ASX200 fell 8.6 points, or 0.10 per cent, to 8,717.1
* The broader All Ordinaries lost 9.6 points, or 0.11 per cent, to 9,022.4
CURRENCY SNAPSHOT:
One Australian dollar trades for:
* 67.14 US cents, from 67.17 US cents at 5pm AEDT on Monday
* 104.76 Japanese yen, from 104.97 Japanese yen
* 57.01 euro cents, from 57.12 euro cents
* 49.67 British pence, from 49.78 British pence
* 115.42 NZ cents, from 115.41 NZ cents
