(Corrects to say the benchmark closed 'higher', and not 'lower', in paragraph 2)
* Mining index lead losers in benchmark
* Global miner BHP's unification becomes effective
* Ansell plunges after co slashes EPS forecast
Jan 31 (Reuters) - Australia shares fell nearly 0.7% on Monday, driven lower by mining heavyweights, though strong performances among technology stocks helped limit losses ahead of a monetary policy meeting by the Reserve Bank of Australia this week.
The S&P/ASX 200 index was down 41.1 points at 6,950.8 points, as of 1230 GMT. The benchmark closed 2.2% higher on Friday.
The mining sub-index led the losses in the benchmark, slumping as much as 1.7% in early trade, despite a surge in iron ore prices. Heavyweights Rio Tinto Ltd and rival Fortescue Metals Group dropped 2.7% and 0.4%, respectively.
BHP Group's unification of its dual listing stricture became effective earlier in the day, sending shares of the global miner down 2.3%.
A Reuters poll showed that the country's central bank will end its bond-buying programme on Tuesday, but is expected to wait until November before it responds to inflationary risks with its first interest rate rise in over a decade.
The last time the central bank raised rates was in November 2010, when it lifted rates to 4.75%.
Energy stocks slipped 0.4%, while healthcare stocks also took a beating by dropping around 0.8%.
The heavyweight financials sub-index fell 1%, with the "Big Four" banks dropping as much as between 0.9% and 2%.
Medical glove maker Ansell Ltd plunged as much as 24% after the company slashed its full-year EPS outlook due to supply chain disruptions.
Bucking the sombre mood, information technology firms gained as much as 2.7% to notch their biggest intraday percentage gain since Jan. 12, taking cues from a strong Nasdaq finish in the previous session.
Software firm Xero Ltd and Computershare Ltd rose between 0.9% and 2.5%.
New Zealand's benchmark S&P/NZX 50 index climbed 0.9%, or 106.62 points, to 11,959.14.
(Reporting by Archishma Iyer in Bengaluru; Editing by Sherry Jacob-Phillips)