SYDNEY/WELLINGTON, April 5 (Reuters) - Australian shares fell to their lowest in a month on Tuesday, led by a slump in Nine Entertainment which disappointed investors with a revenue warning, while New Zealand stocks touched another record high and then retreated.
The S&P/ASX 200 index .AXJO shed 1.6 percent, or 78.9 points, to 4,916.4 by 0253 GMT, reaching a low not seen since March 1.
New Zealand's S&P/NZX 50 index .NZ50 lost 0.5 percent, or 33.8 points, to 6,709.8, having earlier reached an all-time high of 6,765.88.
The New Zealand market has been on fire since a surprise rate cut last month and expectations of more to come. In contrast, Australia's central bank later on Tuesday is considered almost certain to keep interest rates unchanged at 2.0 percent, where they have been since the last cut in May.
The worst performer in Australia was Nine Entertainment Co NEC.AX . The free-to-air television broadcaster warned its revenue fell in the March quarter from a year earlier and that the advertising market is expected to have a low single-digit decline for the full year.
Nine Entertainment shares slumped as much as 28.9 percent to a record low of A$1.08. They were last down 21.9 percent at A$1.18.
Energy producers were also under pressure following a slide in oil prices overnight. Santos STO.AX and Woodside Petroleum WPL.AX both fell more than 3 percent.
Oil prices eased further in Asia on Tuesday, extending falls from the previous two sessions as investors doubted producers will be able to rein in global overproduction.
"OPEC's Doha meeting is now 12 days away and oil is clearly repricing on the idea that 'no deal' will be inked, showing that OPEC is just a cartel by name and not by action," said Evan Lucas, market strategist at IG.
In New Zealand, the biggest losers included Fletcher Building FBU.NZ , down 2.7 percent and Fisher & Paykel Healthcare FPH.NZ , off 2.1 percent.
Bucking the trend, Air New Zealand AIR.NZ added 1.8 percent and Xero XRO.NZ climbed 1.4 percent.
For more individual stocks activity click on STXBZ