* Victoria announces movement curbs, more to come
* Financials hit lowest in two months
* Tabcorp flags impairment, lower annual earnings
Aug 3 (Reuters) - Australian shares fell to a more than
one-month low on Monday, dragged down by financial stocks, as
the country's second-most populous state imposed its strictest
movement restrictions yet to curb an uptick in COVID-19 cases.
The S&P/ASX 200 index was down 0.7% at 5,888.7 by
0106 GMT, marking its lowest since June 30.
Australia's Victoria state declared a state of emergency
over the weekend and enforced a nightly curfew for the capital
Melbourne, with more restrictions for the state's businesses to
be announced later on Monday.
With the Reserve Bank of Australia set to meet on Tuesday,
investors will be focused on the central bank's outlook for the
economy, even though it is unlikely to move interest rates or
make policy changes.
Index heavyweight financials dropped 2.7% on Monday
to hit their lowest since June 3 and led declines on the
benchmark, with the "Big Four" banks all losing between 2.9% and
Woodside Petroleum and Oil Search were the
biggest losers among energy stocks as oil prices
weakened on fears that impending relaxations in production cuts
from OPEC and its allies would result in oversupply.
Gambling and entertainment company Tabcorp Holdings
tumbled 6.2% after it said it would book a hefty impairment
charge and report a smaller annual profit due to COVID-related
Miners traded higher as commodity prices firmed,
with BHP Group and gold explorer Newcrest Mining
rising 1.1% and 2.1%, respectively.
New Zealand's benchmark S&P/NZX 50 index fell 0.5%
Local shares of lenders Westpac Banking Corp and
Australia and New Zealand Banking Group registered the
(Reporting by Arpit Nayak in Bengaluru; Editing by Aditya Soni)