Australia: Shares edge down before central bank meeting; NZ flat

Australian shares edged lower on Tuesday, led by losses in the financial sector as markets were largely resigned to the prospect of the Reserve Bank of Australia keeping rates steady at its policy meeting later in the day.

The S&P/ASX 200 index was down 20.68 points, or 0.4 per cent, at 5408.8 by 0240 GMT, pulling back slightly from a 1.1 per cent gain on Monday.

"The market is marking time to see the results from the Reserve Bank," said James McGlew, executive director of corporate stockbroking at Argonaut.

"The chance of another rate cut is very slim indeed. I think the markets would be very surprised if there is a rate cut today."Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg