By Krishna V Kurup
April 4 (Reuters) - Australian shares edged down on Tuesday, with financials accounting for nearly half the losses on the index, as investors awaited the central bank's decision later in the day.
The S&P/ASX 200 index .AXJO shed 7.48 points, or 0.13 percent, to 5,865.200 by 0231 GMT.
Australia's central bank is expected to stand pat on its cash rate at a record low of 1.5 percent, a Reuters poll of economists showed on Friday. very little chance you're going to see a rate rise here, but quite clearly the heat in the housing prices on the eastern seaboard is now weighing heavily on their thinking," said James McGlew, executive director of corporate stock broking at Argonaut.
"And I reckon if the underlying economy was a little bit more robust, then the interest rate rise will almost be a given."
Australian home prices hit new records while building approvals jumped the most in seven months, data from property consultant CoreLogic showed on Monday, even as regulators launched new measures to cool the red-hot property market. also took leads from Wall Street, as investors questioned whether U.S. President Donald Trump's administration would deliver on its pro-business economic stimulus. .N
Financials .AXFJ declined 0.2 percent, with the "Big Four" banks leading the losses.
Consumer stocks were the second biggest losers on the index, with Wesfarmers Ltd WES.AX and Woolworths Ltd WOW.AX declining 0.6 percent and 0.7 percent, respectively.
Paring the losses on the index, material stocks .AXMM gained nearly 1 percent, with South32 Ltd S32.AX leading the gains on the index. miners .AXGD rose over 3 percent as the yellow metal hit a one-week high buoyed by a weaker dollar, and as investors turned to safe-haven assets over geopolitical worries. GOL/
Newcrest Mining Ltd NCM.AX gained 2.6 percent and Evolution Mining Ltd EVN.AX rose 3.5 percent.
Australian thermal coal prices rose to a four-month high on Monday due to a disruption to domestic exports from Cyclone Debbie, which struck last week. impact of the cyclone will hit coal mines operated by BHP Billiton Ltd BHP.AX BLT.L and Glencore PLC GLEN.L , and raises the prospect of major producers declaring force majeure. of coal miners with assets in jurisdictions that were not impacted by Debbie surged.
Whitehaven Coal Ltd WHC.AX climbed 7.9 percent, while New Hope Corporation Ltd NHC.AX gained 4.6 percent.
New Zealand's benchmark S&P/NZX 50 index .NZ50 rose 0.1 percent to 7,232.65 points, helped by gains in utilities and real estate stocks.
Electric utilities company Mercury NZ Ltd MCY.NZ rose 1 percent, while Property for Industry Ltd PFI.NZ gained 2.5 percent.
For more individual stocks activity click on STXBZ