Australian shares dipped in early trade on Thursday, hurt by falls in energy and mining stocks on weak commodity prices, while the country's fourth-largest lender ANZ gained on robust annual profit.
The S&P/ASX 200 index shed as much as 0.4% to 7,416.3, before paring some losses to trade 0.1% lower closer to midday. The index is heading toward snapping a six-session rally.
Falling most were energy stocks, down nearly 2%, as oil prices dropped. Coal miner Whitehaven Coal, led losses, plunging as much as 13%.
Miners followed, with BHP Group and Rio Tinto falling more than 1% early in the session.
A drop in aluminium prices to their lowest in nearly eight weeks sent shares of Alumina Ltd and South32 sharply lower.
Separately, Australia eased COVID-related travel advice for several countries including the United States, Britain and Canada, as it prepares to reopen its borders next week for the first time in over 18 months.
Boral, the top construction materials maker, gained the most on the benchmark as it took a smaller hit to earnings than it initially thought.
Australia and New Zealand Banking Group kicked off the bank earnings, posting a 65% jump in annual profit. Shares rose 1.3% outperforming its "Big Four" rivals.
Newcrest Mining, Australia's largest listed gold miner, dropped 1.4%, marking its worst day since Sept. 29 and posted a 21.2% fall in first-quarter gold production.
New Zealand's benchmark S&P/NZX 50 index was on track to extend losses into the fourth session, falling 0.4% to 12,965.55 points.
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