March 20 (Reuters) - Australian shares opened the week lower on Monday, in line with global markets as liquidity concerns in the banking sector soured risk appetite, with financials leading losses.

The S&P/ASX 200 index fell 0.8% to 6,938.60 by 2330 GMT. The benchmark ended 0.4% higher on Friday.

Investor sentiment has been fragile since the fallout of major U.S. and European banks have brought in fears of a potential credit crunch that can worsen a looming economic slowdown.

In Australia, an A$300 billion ($201.39 billion) refinancing task for the 'Big Four' banks is about to get harder, say analysts, as appetite for new debt shrinks across global markets roiled by concerns about banks' stability and liquidity.

A top Australian central banker on Monday said stress in the global banking system was mainly confined to a small number of poorly managed banks and was just one of many considerations for domestic monetary policy.

Investors are now focused on the U.S. Federal Reserve's two-day monetary policy meeting later this week, where economists are widely expecting a 25 basis point interest rate hike, according to a Reuters Poll.

Financials fell about 1.5%, with all the 'Big Four' banks in the red.

Local tech stocks tracked Friday's losses of their Wall Street peers, shedding 1.6%. ASX-listed shares of Block Inc and Xero Ltd dipped 1.5% and 0.8%, respectively.

On the other hand, gold stocks soared 7.6%, posting their biggest intraday gain in about 3 years, on higher bullion prices.

Shares of Newcrest Mining and Northern Star Resources advanced 6.1% and 6.6%, respectively.

Separately, shares of Healius Ltd jumped 5.4% after receiving a A$1.52 billion takeover offer from Australian Clinical Labs.

New Zealand's benchmark S&P/NZX 50 index fell 0.7% to 11,640.43.

($1 = 1.4896 Australian dollars) (Reporting by Echha Jain in Bengaluru; Editing by Rashmi Aich)