Australian shares ended marginally higher on Tuesday as gains in materials offset declines in financial stocks, with investors cautiously optimistic Democrat Hillary Clinton would win the US presidential election. The S&P/ASX 200 index shed some early gains to end 0.13 percent higher at 5,257.8.
Most polls show Clinton leading Republican rival Donald Trump by a tight margin. The ASX 300 Metals and Mining Index closed up by nearly 2 percent, hitting a 17-month high, propelled by a rise in metal prices. BHP Billiton Ltd rose 2.6 percent and was top contributor to both the benchmark and metals indexes.
Financials were the biggest drag on the index with Commonwealth Bank of Australia and Westpac Banking Corp falling 0.6 and 0.8 percent. New Zealand's benchmark S&P/NZX 50 index extended gains to a second session, rising 0.3 percent to finish at 6,894.35. Gains were led by industrials and telecom stocks, with Auckland International Airport Ltd and Spark New Zealand Ltd rising more than 1.4 percent.
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