Australian shares fell for the fourth straight session on Tuesday, erasing earlier gains, as investors buckled up for US President Donald Trump's speech to Congress later in the day. Trump is expected use the major policy speech to a joint session of Congress to preview some elements of his plans on infrastructure spending and tax cuts. The S&P/ASX 200 index rose as much as 0.6 percent earlier in the session but ended down 0.2 percent, or nearly 12 points, at 5,712.2.
For the month of February, the benchmark index gained 1.6 percent. Basic materials and consumer staples widened losses on Tuesday, offsetting gains in the energy sector. Gold stocks were the biggest drag on the materials sector, with St Barbara shedding 11.2 percent and Resolute Mining tanking 12.3 percent, its biggest percentage loss in 19 months. Major miner Rio Tinto was 0.8 percent lower, while peer BHP Billiton was flat. New Zealand's benchmark S&P/NZX 50 index finished 1.2 percent, or 88.28 points, higher at 7,167.46. The rise took its gains in February to 1.7 percent.
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