Australia shares edge lower as heavyweight miners lose ground

Nov 12 (Reuters) - Australian shares edged lower on Thursday as weak commodity prices hit heavyweight miners, although gains in most other sectors, led by technology stocks, limited losses.

The S&P/ASX 200 .AXJO was down 0.4% at 9,118.80, as of 2326 GMT. The benchmark retreated from a roughly 1.4% gain over the last three sessions.

Heavyweight miners .AXMM, accounting for around a quarter of the resource-heavy bourse, slipped nearly 2%, with BHP Group BHP.AX and Rio Tinto RIO.AX down 1.6% and 1.9%, respectively.

Iron ore prices were pressured by anticipated steel output curbs in top consumer China, which are expected to dampen demand for the steel-making ingredient. IRONORE/

Separately, BHP, the world's largest-listed miner, named insider Adrian Wood as its new finance chief, effective next year.

Gold miners .AXGD added to the slump, down 3%, and extended losses for a second consecutive session. Bullion prices remained under pressure as expectations of higher US interest rates strengthened. GOL/

Sector majors Northern Star Resources NST.AX and Evolution Mining EVN.AX slipped 2.6% and 3.4%, respectively.

Bucking the broader trend, technology stocks .AXIJ surged 3.2%, hitting their highest level since late August.

Accounting software maker Xero XRO.AX led the rally, gaining nearly 13% to a two-month high, after announcing a A$1 billion ($684.9 million) share buyback alongside a 46% jump in half-year revenue.

Other constituents in the sub-index WiseTech Global WTC.AX and Technology One TNE.AX added 1.9% and 1.3%, respectively.

Financials .AXFJ eked out a marginal 0.1% gain, with two of the "Big Four" banks trading in positive territory.

Separately, Australia's corporate regulator has launched civil penalty proceedings against Commonwealth Bank of Australia CBA.AX over allegations of overcharging the lender's business customers in fees they were not informed about. Shares of CBA traded 0.6% higher.

Elsewhere, healthcare stocks .AXHJ gained 0.4% while the real estate sub-index .AXRE marginally rose 0.1%.

Across the Tasman Sea, New Zealand's benchmark S&P/NZX 50 index .NZ50 was up 0.6% at 14,259.12, after earlier hitting a record high of 14,275.30.

($1 = 1.4601 Australian dollars)