Australian shares slipped on Tuesday, driven by losses in financials and technology stocks, even as broader investor sentiment elsewhere was lifted by new stimulus measures and the easing of COVID-19 restrictions in China.
The S&P/ASX 200 index was down 0.3% at 7261.4 points, as of 0039 GMT, snapping a two-session winning streak.
The benchmark has lost 2.2% so far this month. Global sentiment, however, was largely afloat as certain COVID-19 curbs in China were eased at capital city Beijing and financial hub of Shanghai after two months of lockdown.
Shanghai authorities also announced an action plan to boost the economy.
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In other key markets, Japan's Nikkei edged up 0.1% to 27379,53 and S&P 500 E-minis futures were up 0.3%.
US markets remained shut on Monday for the Memorial Day holiday.
Domestic technology stocks emerged as top losers in the benchmark index, shedding over a percent with ASX-listed shares of sector major Block Inc. down 3.3%.
Technology stocks are on track to register a 7.5% drop in May. Financials, which slipped 0.4%, were set for a monthly drop of 2%, with the "Big Four" banks trading in red on Tuesday.
Export-reliant miners and mining sub-index was trading steady with sector giants BHP Group, Rio Tinto and Fortescue Metals Group climbed between 0.3% and 1.5%.
Energy stocks were flat even as oil prices climbed to $121 per barrel mark, with Santos Ltd adding 1.5%.
New Zealand's benchmark S&P/NZX 50 index was up 0.6% at 11209.88, as of 0039 GMT.
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