* Aussie miners, which are exposed to China, lead gains
* Financials aided by dovish RBA
* Investors await Fed rate decision later on Wednesday
By Nikhil Nainan
June 19 (Reuters) - Australian shares climbed to an 11-year high on Wednesday, as investor sentiment was underpinned by hopes U.S. and Chinese leaders would revive stalled trade talks and on prospects of rate cuts by the Federal Reserve and more policy easing at home.
The S&P/ASX 200 index .AXJO rose 0.9%, or 61.2 points to 6,632.90 by 0058 GMT, having closed 0.6% higher on Tuesday.
Wall Street's overnight rally provided the early impetus, as U.S. President Donald Trump said he would have an extended meeting with Chinese President Xi Jinping at the G20 summit later this month, at a time when talks have all but broken down. were also betting on the U.S. Federal Reserve to open the door to future rate cuts when it delivers its decision later in the global day. While few expect an easing at the current meeting, markets are priced for at least 2 rate cuts before year-end. home, the Reserve Bank of Australia has decisively shifted to an easing stance, cutting rates earlier in June and saying further reduction would likely be needed.
Australia's mining sector, highly exposed to top trade partner China, was among the biggest gainers.
It .AXMM rose 1.8% with iron ore miner Fortescue Metals Group FMG.AX rising the most among its peers. The miner jumped more than 5% to an over a decade-high.
Global miners BHP Group BHP.AX and Rio Tinto (LON:RIO) RIO.AX also climbed as much as 2.6% and 3%, respectively.
Financial stocks .AXFJ rallied about 1%, with the country's "Big Four" banks gaining between 0.6% to 1.3%.
"News about the RBA continuing to take a dovish stance is certainly helping financial stocks," said Michael McCarthy, chief market strategist at CMC Markets.
Elsewhere, Afterpay Touch Group APT.AX was among the biggest gainers on the benchmark as investors return to the 'buy now, pay later' company after the country's financial crime watchdog ordered an audit over money-laundering concerns. It rose as much as 6.5%. Group Ltd COL.AX , which touched a record high during Tuesday's session after announcing a strategic reset, extending gains on the back of several price target hikes by brokerages.
Elsewhere, gold stocks .AXGD dropped 1% as gold prices pared gains on optimism surrounding the planned Trump-Xi meeting.
New Zealand's benchmark S&P/NZX 50 index .NZ50 rose 1.1% or to 10,302.69.
Australia and New Zealand Banking Group's local-listed shares ANZ.NZ rose 1.7% while Infratil IFT.NZ added 1.9%.
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