June 2 (Reuters) - Australian shares inched higher on Tuesday as gains in energy and financial stocks offset losses in mining stocks, while investors awaited a rate decision by the central bank.
The Reserve Bank of Australia is expected to keep rates on hold at its policy meeting later in the day as the government moves to revive an ailing economy amid further relaxation of the pandemic-induced lockdown.
Meanwhile, rising violence in the United States has also dampened investor sentiment, with several cities under curfew and the National Guard deployed in 23 states and Washington, D.C. S&P/ASX 200 index .AXJO rose 0.14% to 5,827.6 points by 0101 GMT. The benchmark rose 1.1% on Monday.
Stronger oil prices provided a boost to energy stocks .AXEJ which rose 0.57% with shares of Worley Ltd WOR.AX , up 3.49%, and those of New Hope Corporation Ltd NHC.AX , gaining 2.55%.
Financial stocks .AXFJ rose 0.38%, with shares of Commonwealth Bank of Australia CBA.AX rising 0.5%, while Australia and New Zealand Banking Group ANZ.AX slipped 0.6% after it announced the sale of its New Zealand-based asset finance unit. ASX 300 metals and mining index .AXMM with global miners BHP Group Ltd BHP.AX shedding 1.1%, while Fortescue Metals Group FMG.AX dipped 1.2%.
Gold stocks also traded in the red, falling 1.07%, with Tribune Resources Ltd TBR.AX down 2.86% and Northern Star Resources Ltd NST.AX losing 1.78%.
In New Zealand, the benchmark S&P/NZX 50 index .NZ50 rose 0.94% to 10,984.4.
The top percentage gainers on the .NZ50 are Gentrack Group Ltd GTK.NZ , up 11.89%, followed by Synlait Milk Ltd SML.NZ , gaining 8.77% and Fletcher Building Ltd FBU.NZ , up 8.26%.