(Reuters) - Australian shares closed marginally lower on Wednesday as declining crude oil prices drove the energy sector lower, which offset gains in financial and healthcare stocks.
The S&P/ASX 200 index <.AXJO> closed 0.2 percent weaker at 5,829 points, its fourth straight session of losses. The benchmark fell 1.1 percent on Tuesday.
Oil prices plunged about 5 percent overnight as a global equities sell-off raised concerns about demand growth, while Saudi Arabia promised to increase its output. [O/R]
The energy index <.AXEJ> slipped 2.1 percent, with index heavyweight Woodside Petroleum <WPL.AX> declining 1.3 percent and Santos Ltd <STO.AX> down 2.5 percent.
Oil Search <OSH.AX> extended losses into a third session and had dropped as much as 5.3 percent during the day. The company reported strong quarterly results on Tuesday.
Metals and mining shares <.AXMM> followed suit with a 1.1 percent fall after base metal prices fell, reflecting doubts over China's plans to reinvigorate the country's slowing economy. China is Australia's top resource importer. [MET/L]
Mining giants BHP <BHP.AX> and Rio Tinto <RIO.AX> slumped 2.2 percent and 0.9 percent, respectively.
Outdoor equipment retailer Super Retail Group <SUL.AX> fell 11 percent and was the biggest decliner on the Australian benchmark after its chief executive announced his retirement.
On the other hand, gold stocks <.AXGD> gained on higher prices in the yellow metal <XAU=> as global political and economic uncertainties bolstered safe-haven demand for the commodity. [GOL/]
Newcrest Mining <NCM.AX>, the country's largest independent gold miner, rose 2.9 percent after it said quarterly gold production increased from a year ago.
Financial shares <.AXFJ> recovered after two sessions of losses, with major lenders Westpac Banking Corp <WBC.AX> advancing 0.7 percent and Australia and New Zealand Banking Group <ANZ.AX> rising 0.6 percent.
Healthcare stocks also advanced with sector heavyweights CSL Ltd <CSL.AX> and Ramsay Health Care <RHC.AX> gaining 0.5 percent and 1.8 percent, respectively.
New Zealand's benchmark S&P/NZX 50 index <.NZ50> lost 0.4 percent or 30.94 points to finish the session at 8,642.24.
Consumer shares saw heavy losses after A2 Milk <ATM.NZ> fell 1.5 percent and Synlait Milk <SML.NZ> dropped 5 percent. Synlait was the biggest intraday decliner on the benchmark.
(Reporting by Niyati Shetty in Bengaluru; Editing by Sam Holmes)
