Banks help Australian share market trim losses

The local market lost most of its morning gains but banks helped limit losses for the day. (Joel Carrett/AAP PHOTOS)

Australian shares have edged slightly lower on Wednesday, but outperformed indexes in Asia and US futures with help from the financial sector.

The S&P/ASX200 fell 2.8 points, or 0.04 per cent, to 7757.6, as the broader All Ordinaries lost 8.2 points, or 0.1 per cent, to 7961.7.