* Financial stocks dominate gains
* Navitas surges on sweetened buyout offer from consortium
By Shriya Ramakrishnan
Jan 15 (Reuters) - Australian shares edged higher on Tuesday, boosted by banks which tracked gains in their U.S. peers, though concerns about a slowdown in China's economy restrained overall sentiment.
Shares of adult education provider Navitas NVT.AX jumped as much as 15.3 percent and was the market's top performer, after it received a sweetened A$2.09 billion ($1.51 billion) buyout offer from a consortium of its founder Red Jones and private equity firm BGH. S&P/ASX 200 index .AXJO rose 0.2 percent, or 12.7 points, to 5,785.8 by 0057 GMT. The benchmark ended 0.02 percent lower on Monday.
Exports from China, Australia's top export market, posted their biggest drop in two years in December, data showed on Monday, while imports also contracted, pointing to further weakness in the world's second-largest economy. disappointing data rekindled fears of slackening global growth, causing investors to move away from riskier assets.
But financial stocks .AXFJ , which account for nearly half the benchmark, followed their Wall Street peers higher and climbed as much as 0.7 percent to a near six-week high.
The financial sub-index posted modest gains after Citigroup Inc (NYSE:C) C.N reported better than anticipated fourth-quarter earnings. .N
Top lender Commonwealth Bank of Australia CBA.AX led financial stocks higher, rising 0.6 percent, while the rest of the 'Big Four' banks gained between 0.2 percent to 0.6 percent.
Damien Hennessy, co-founder of Heuristic Investment Systems, said the positive sentiment emanating from gains in U.S. banks was flowing through to Australia.
"There are still a number of risks around the sector - predominantly very slow and weak credit growth is a key factor for the banking sector domestically," Hennessy added.
Australia's financial stocks were under pressure last year after a high profile inquiry provided shocking revelations of misconduct and wrongdoing at the country's top banks.
The final report of the inquiry is due Feb. 1 and could spark wide-ranging industrial reform.
Energy stocks .AXEJ also lent support to the benchmark gaining 0.7 percent, with sector heavyweight Woodside Petroleum WPL.AX advancing 0.7 percent, while coal miner Whitehaven Coal WHC.AX added 1.9 percent.
Gold stocks .AXGD benefitted from a pullback in global equities, as a shock contraction in Chinese imports and exports prompted investors to seek safety in the precious metal. GOL/
St Barbara SBM.AX rose 1.7 percent, while Northern Star Resources Ltd NST.AX climbed 1.8 percent.
Across the Tasman Sea, New Zealand's benchmark S&P/NZX 50 index .NZ50 was flat at 8,972.58.
Financials and consumer stocks led gains on the benchmark, with dairy company A2 Milk ATM.NZ gaining 2.9 percent, while commercial real estate developer Goodman Property Trust GMT.NZ strengthened 0.6 percent.
($1 = 1.3879 Australian dollars)