(Reuters) - Australian shares ended lower on Wednesday as a decline in oil prices dented energy-related stocks, while a weaker local currency prompted some investors to trim their exposure to local assets.
The S&P/ASX 200 index <.AXJO> fell 0.9 percent, or 49.342 points, to 5,652.1 at the close of trade. The benchmark shed 0.5 percent on Tuesday.
Energy stocks <.AXEJ> fell more than 1 percent as Brent crude futures dipped 0.7 percent on fears that a rally which had lifted Brent to mid-2015 highs by late September had been overdone. [O/R]
Caltex Australia <CTX.AX> and Beach Energy <BPT.AX> both closed more than 1.7 percent lower.
The Australian dollar <AUD=D4> fell as much as 0.5 percent, continuing its decline for a second session after the Reserve Bank of Australia (RBA) on Tuesday kept its benchmark rate at a historic low of 1.50 percent.
Australia and New Zealand Banking Group <ANZ.AX> dragged the index the most, falling 2.1 percent to its lowest since Sept. 8.
Major miners Rio Tinto <RIO.AX> and BHP Billiton <BHP.AX> also closed in the red, ending the day 1.6 percent and 0.6 percent lower, respectively.
On the other hand, Commonwealth Bank of Australia <CBA.AX> drove most of the gains, ending up 0.3 percent.
Across the Tasman Sea, New Zealand's benchmark S&P/NZX 50 index <.NZ50> rose 0.2 percent or 16.27 points to finish the session at 7949.69, supported by consumer staples and utility stocks.
Dairy company A2 Milk <ATM.NZ>, the biggest percentage gainer, lifted the index the most and ended the day up 5.1 percent.
Meanwhile, home builder Fletcher Building Ltd <FBU.NZ> was the biggest drag on the Kiwi benchmark index, falling as much as 2.4 percent before recovering marginally to close down 1.1 percent.
(Reporting by Aaron Saldanha in Bengaluru; Editing by Sam Holmes)
