By Wayne Cole and Charlotte Greenfield
SYDNEY/WELLINGTON, Feb 23 (Reuters) - Australian shares eased 0.2 percent on Tuesday amid profit-taking on banks and telecoms, even as the recent mood of extreme pessimism lightened a little globally and lifted resource stocks.
The S&P/ASX 200 index .AXJO fell 9.9 points to 4,991.3 by 0140 GM, with losses in index heavyweights Commonwealth Bank CBA.AX , Westpac WBC.AX and Telstra TLS.AX .
BHP Billiton BHP.AX BLT.L slashed its interim dividend by 75 percent on Tuesday, cutting it for the first time since 1988 following a collapse in resource prices. its shares added 3 percent, aided by a hefty $3.30 jump in the price of iron ore to $50.30 a tonne, the highest since late October and a long way from December's trough of $37.
Competitor Rio Tinto (L:RIO) RIO.AX gained just over 1 percent on top of a steep jump in London trade.
Qantas Airways QAN.AX reported first-half profit more than doubled to a record, though mainly thanks to sharply lower fuel costs. market had already priced in much of that improvement and was quick to take profits on the results, knocking the stock down 4 percent.
QBE Insurance Group QBE.AX climbed 9 percent after reporting a rise in both profits and dividends. takeover war for Asciano AIO.AX took a new twist as the competing bidders said they were considering a joint offer worth A$9 billion ($6.5 billion). bidder Qube Holdings QUB.AX saw its stock rise 11.9 percent on the news.
New Zealand's benchmark S&P/NZX 50 index .NZ50 rose 0.58 percent or 35.93 points to 6,175.390 on Tuesday, tracking gains in global markets.
Heartland Bank HBL.NZ led with a rise of 2.61 percent after announcing its half-year revenues. New Zealand AIR.NZ rose 1.44 percent, while retailer The Warehouse Group WHS.NZ added 1.12 percent.
Freightways FRE.NZ fell 1.48 percent, losing more ground after a offering a cautious outlook in its half-year earnings results on Monday.
Mighty River Power MRP.NZ edged down 0.75 percent after its half-year operating earnings dipped amid intense market competition. more individual stocks activity click on STXBZ