By Shashwat Pradhan
Feb 21 (Reuters) - Australian shares nudged lower on Tuesday morning as the earnings season kept many investors sidelined, with Oil Search falling after reporting an annual drop in profits while losses in financial stocks dragged on the main index.
Besides the earnings season, which has seen a fare share of disappointments so far, investors are also awaiting data on wages growth, construction and capex, as well as two appearances by central bank chief Philip Lowe. is a little bit of profit taking hitting the market today - we don't have any leads from Wall Street to work off this morning," said Ben LeBrun, a market analyst with Optionsxpress.
The S&P/ASX 200 index .AXJO slipped 10.29 points or 0.2 percent to 5,784.8 points by 0033 GMT.
The main focus for the market on the day is first half earnings from global miner BHP Billiton (LON:BLT) Ltd BHP.AX expected later. The stock rose 0.6 percent, while Rio Tinto (LON:RIO) Ltd RIO.AX climbed 1 percent.
Sentiment for the miners was boosted by copper prices which bounced back above $6,000 a tonne on Monday as a dispute affecting production at the world's second-biggest copper mine worsened. MET/L
Elsewhere, weaker earnings kept buyers at bay. Job classifieds portal Seek Ltd SEK.AX slid as much as 3.8 percent, its biggest intra-day percentage decline in more than three months, after announcing a 69 percent fall in its first-half net profit.
Oil Search Ltd OSH.AX was down 1.8 percent after it reported a 70 percent drop in annual core profit, hit by weak oil and gas prices. Ltd BXB.AX extended its losses, slumping 3 percent to over a 2-year low after the pallets and container group issued a profit warning on Monday. financial index .AXFJ edged 0.3 percent lower after four straight days of gains. Westpac Banking Corp WBC.AX fell as much as 0.6 percent before paring losses after it said its level of stressed assets fell slightly in the three months to Dec. 31. financial sector has run very hard in recent times, so we're seeing some degree of profit taking," Optionsxpress' LeBrun said.
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New Zealand's benchmark S&P/NZX 50 index .NZ50 was flat at 7,103.5 points.
Gains in materials and consumer discretionary stocks were offset by declines in telecom and healthcare stocks.
Scales Corp SCL.NZ was the top percentage gainer, rising 2.9 percent to hit a record high.
Among the big losers was Comvita Ltd CVT.NZ which shed 2.9 percent after it reported a net loss after tax for the six months ended Dec. 31.