The S&P/ASX 200 opened largely unchanged to around 8,810 in Wednesday morning trade, as profit-taking in banking stocks outweighed gains in heavyweight miners. The financial sector retreated 0.4%, as investors locked in profits after the sub-index reached its strongest session since mid-December. The four largest banks dropped around 0.2% to 0.6%. A mixed set of data, including softer November inflation and weaker consumer confidence, supports the case for the RBA to keep rates on hold in February, as market pricing for a hike has fallen to 30%. A pause could help support bank lending growth and keep loan defaults low. Additionally, local technology stocks were mostly lower, mirroring losses in US equities overnight. On the upside, the mining sector extended gains, up 0.3% to hit a new all-time high. Heavyweight BHP and Rio Tinto climbed 0.7% and 1%, respectively. Investors continued to weigh the impact of Rio’s Glencore bid on BHP, which may stay on the sidelines for now.