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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.

Miners, tech lift Australia shares higher; AGL falls on shelving demerger plans

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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