April 20 (Reuters) - Australian shares slipped from 14-month
highs on Tuesday, tracking losses on Wall Street, with
technology and financial stocks weighing the most on the local
The S&P/ASX 200 index fell 0.5% to 7,030.10 by 0030
GMT, down after rising for five straight sessions to hit its
highest level since Feb. 24, 2020 on Monday. It is off more than
2% from a record high scaled in February last year.
Overnight, all three major U.S. indexes settled lower,
slipping from last week's record levels as investors awaited
direction from corporate earnings, while electric carmaker Tesla
fell more than 3%.
In other markets, Japan's Nikkei traded 1.73% lower
on Tuesday, while S&P 500 E-minis futures were up 0.17%.
In Australia, Afterpay was among the top percentage
gainers on the benchmark, trading 2.6% higher after it said it
was exploring a U.S. listing and reported a more than two-fold
jump in its third-quarter sales volumes.
Gains in Afterpay, however, failed to push the Australian
technology index higher. The index declined as much as
Miners declined about half a percent, with BHP Group
and Fortescue Metals Group falling about 0.2%
Rio Tinto, the world's biggest iron ore miner,
added 0.8% after it reported a 7% rise in its March-quarter iron
ore shipments compared with a year earlier.
Lynas Rare Earths lost as much as 4%, marking its
biggest intraday percentage drop in nearly four weeks, after it
reported a slight drop in its quarterly rare earths output.
Financial stocks fell 0.6%, with top lenders
Commonwealth Bank of Australia and Australia and New
Zealand Banking Group Ltd declining 0.4% each.
In New Zealand, the benchmark S&P/NZX 50 index fell
1% to 12,641.1, its biggest drop in four weeks.
The top percentage loser on the index was Meridian Energy
, down 3.1%. Mercury NZ fell 2.5%, while
Auckland International Airport slipped 1.7%.
($1 = 1.2868 Australian dollars)
(Reporting by Sameer Manekar in Bengaluru; Editing by