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April 27 (Reuters) - Australian shares ended higher on Thursday, underpinned by financials, as investors stayed on the sidelines against the backdrop of a weaker Wall Street.
The S&P/ASX 200 index .AXJO ended 9.464 points or 0.16 percent higher, at 5,921.50.
In the United States, the S&P 500 .SPX ended 0.05 percent lower, while the Dow Jones Industrial Average .DJI fell 0.1 percent, after U.S. President Donald Trump's one-page tax plan failed to excite investors.
The Australian stock market seemed to be consolidating after a bull run over the last few sessions, analysts said, adding that traders are now looking for market-moving catalysts.
The financial index .AXFJ hit a 23-month high, led by the 'Big Four' banks, which are slated to report earnings next week.
The biggest drag on the index came from energy stocks - oil majors slipped on lower prices, while stocks such as Santos STO.AX and Origin Energy ORG.AX , which have some LNG assets, fell after the Aussie government proposed to restrict exports of liquefied natural gas during times when domestic shortage (due to high exports) pushes up local LNG prices. BHP Billiton (LON:BLT) BHP.AX , Rio Tinto (LON:RIO) RIO.AX and Fortescue Metals FMG.AX slipped on lower commodity prices.
New Zealand's benchmark S&P/NZX 50 index .NZ50 ended 0.266 percent or 19.480 points higher to finish the session at 7,354.610, led by materials.
Fletcher Building Limited FBU.NZ was the top performer on the index, which climbed to a fresh six-month high on Thursday.