* Financial stocks decline the most in Australia
* National Storage REIT top pct loser on ASX
* NZ gains, Pushpay Holdings at record high
By Shriya Ramakrishnan
May 6 (Reuters) - Australian shares fell on Wednesday as buoyant gains in energy stocks after a surge in oil prices were overshadowed by weakness in the heavyweight financial sector.
The S&P/ASX 200 index .AXJO fell 0.8% to 5,362.3 by 0100 GMT after two straight sessions of gains. It was off 25.2% from its lifetime high hit on Feb. 20 and down 19.1% so far this year.
Oil prices soared overnight on prospects that fuel demand will likely begin to pick up as some European and Asian countries along with several U.S. states began to ease coronavirus lockdown measures. O/R
That lent support to the Australian energy sub-index .AXEJ , which jumped as much as 2.3%. Oil and gas producer Beach Energy and Whitehaven Coal WHC.AX dominated gains, adding 0.7% and 1.1%, respectively.
But the financial sector .AXFJ , the largest constituent of the benchmark index, fell more than 1%, with the "Big Four" lenders down between 1.2% and 1.6%.
Australia's big banks have warned that credit losses from the country's first expected recession in three decades will top A$17 billion ($10.92 billion) but analysts predict the bill for the coronavirus lockdown will be higher, which could lead to more capital raisings and dividend deferrals. stocks .AXGD rose more than 2% on firmer bullion prices, putting the sub-index on track for a third straight session of gains.
National Storage REIT NSR.AX , the country's largest self-storage facility operator, was the worst performer on the benchmark index and most heavily traded by volume. Shares of the company slid as much as 8.3% a day after they resumed trade, following a discounted equity raise.
Meanwhile, electronics retailer JB Hi-Fi JBH.AX jumped as much 7.8% to a more than one-month high after reporting strong third-quarter sales growth in Australia.
The number of issues on the ASX that advanced were 584 while 441 declined as a 1.3-to-1 ratio favoured advancers. There were 83 new highs and 69 new lows
In New Zealand, the benchmark S&P/NZX 50 index .NZ50 rose 0.82% to 10,576.8, boosted by payments platform provider Pushpay Holdings PPH.NZ , which hit a record high.
($1 = 1.5567 Australian dollars)