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Australia: Shares slip, pressured by tech, healthcare stocks; NZ falls

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Australian shares declined on Tuesday, as gains in the energy sector were overshadowed by falls by technology and healthcare stocks, as well for gold miners.

[SYDNEY] Australian shares declined on Tuesday, as gains in the energy sector were overshadowed by falls by technology and healthcare stocks, as well for gold miners.

The S&P/ASX 200 index slipped 0.5 per cent to 6,614.10 at the close. The benchmark inched 0.01 per cent higher on Monday.

Overnight, Wall Street was also pressured by US tech and healthcare stocks, leading it to close largely flat.

The Australian tech index was 3.4 per cent lower at the close.

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Market voices on:

The biggest drag on the Australian benchmark, logistics software maker WiseTech Global, ended the session over 7 per cent lower, hitting a 1-1/2 week low

Australian tech stocks "have seen valuations recently that are uncommon in most other sectors. Investors may be taking some money off the table after the strong performances of some of the highest flying tech stocks", said Marc Kennis, principal of Pitt Street Research.

Gold stocks plunged over 4 per cent, the index's fourth straight losing session, as bolstered appetites for riskier assets dropped the precious metal's prices to a four-week low.

The broader mining index shed nearly 1 per cent on a second consecutive down day.

Across the Tasman Sea, New Zealand's benchmark S&P/NZX 50 index dropped 0.5 per cent to finish at 11,142.58.

REUTERS