Australian shares snapped seven straight sessions of gains to end Tuesday lower as financial stocks fell after Australia and New Zealand banks' quarterly earnings missed expectations. Meanwhile, Australia's central bank also held rates steady at 1.5 percent for a ninth straight month on Tuesday as it sought to balance the risk of bursting a debt-fuelled property bubble against subdued inflation and wages growth.

The S&P/ASX 200 index closed 6.123 points, or 0.1 percent, down at 5,950.4, after seven straight gaining days. Australia and New Zealand Banking Group fell as much as 3 percent, logging its worst day in nearly six months, after a 23 percent rise in first-half cash profit fell short of analysts' expectations.

ANZ was the first to report half-year results among the 'Big Four' banks which had rallied in previous sessions on optimism ahead of the results. Newcrest Mining shed 0.4 percent, while Evolution Mining declined 3.5 percent. On the other hand, consumer non-cyclicals gained as Woolworth's rose as much as 2.5 percent after posting strong sales figures for the quarter. New Zealand's benchmark S&P/NZX 50 index rose for the seventh straight day, up 0.5 percent, or 40.27 points to 7,422.49.

Copyright Reuters, 2017