Aug 23 (Reuters) - Australian shares fell on Tuesday to their lowest levels in near two weeks, dented by heavyweight financials, although a jump in commodity stocks on the back of improving underlying prices helped the resource-heavy bourse recoup some early losses.
The S&P/ASX 200 index was down 0.5% at 7009.8, as of 0059 GMT, also hitting its lowest level since Aug. 11. The index ended 1% lower on Monday.
Uncertainty over the pace of U.S. interest rate hikes prevailed among investors, as markets globally braced for remarks from Federal Reserve Chair Jerome Powell at the Jackson Hole Symposium due on Friday. Australian banks, one of the top-weighted sectors in the benchmark, logged its worst intraday since July 15 after retreating 1.3%. The sub-index is down for a fourth straight session. All top four banks registered losses between 0.4% and 1.5%. Reflecting improved oil prices, energy stocks jumped 1% with sector majors Woodside Energy and Santos adding 1.9% and 1.3%, respectively. With the corporate reporting season at full play, investors digested a slew of earnings reports, which are swaying the broader market in both directions.
Shares in Altium advanced 20.8% to gain the most since June 2021, as the software maker's bump in full-year profit beat market consensus.
Medical glove maker Ansell jumped 8.4% to gain most since March 2020, after the company forecast financial 2023 earnings per share within the range of $1.15 to $1.35.
Online retailer Kogan.com shed 4% after it swung to a loss in fiscal 2022.
Shares in retail drinks and hotel business Endeavour Group dived 8.8% despite the company posting a higher annual profit.
Domestic miners added 0.8% on improvement in iron ore prices, with mining giants Fortescue Metals and BHP gaining 0.3% and 1.5%, respectively.
Across the Tasman Sea, New Zealand's benchmark S&P/NZX 50 slipped 0.9% to 11653.3.
(Reporting by Roushni Nair in Bengaluru; Editing by Sherry Jacob-Phillips)
