News: Australia, New Zealand shares edge lower

Australian shares dipped on Wednesday, falling for the first time in three sessions as revived expectations of an U.S. interest rate hike weighed, though stronger commodities prices offset some of the losses.

The S&P/ASX 200 index (xjo) fell 0.1 percent or 7.74 points to 5,388.1 by 0230 GMT. The benchmark rose 0.69 percent on Tuesday.

"The market seems to be nervous about U.S. data holding up better than expected and two Fed speakers coming out and being hawkish for a rate hike in June," said Angus Nicholson, market analyst, IG Markets.

"That has sent some jitters through the market." Financial stocks weighed on the index, with shares in National Australia Bank Ltd (NAB) and Macquarie Bank Ltd [MBL.UL] both falling more than 1 percent, while Commonwealth Bank of Australia edged down nearly 0.5 percent.

Losses were curbed though by stronger commodity markets, which aided the country's miners and resource companies.

Shares in BHP Billiton Ltd (BHP) rose nearly 2 percent to hit more than a two-week high, while Fortescue Metals Group Ltd (FMG) rose 1 percent to also hit a 14-day top after iron ore prices rallied as much as 3 percent overnight

Shares in Origin Energy (ORG) rose nearly 3 percent as prices hit a five-month high, drawing support as the price of oil hovered close to a 2016 high.

New Zealand's benchmark S&P/NZX 50 index (nz50) edged down 0.3 percent or 18.90 points to 6,955.97.

Steel Tube (STU) fell 3.11 percent after the steel products processor said full-year 2016 profits were expected to fall short of the previous year.

Accounting software company Xero (XRO) lost 2.4 percent and Fisher & Paykel Healthcare (FPH) lost 1.2 percent.

Mobile payment app Pushpay Holdings (PAY) fell 3.08 percent after announcing its net loss had increased almost 160 percent.

Infrastructure company Infratil (IFT) was among the biggest gainers, rising 1.21 percent after the company announced its full-year results.

Heartland Bank (HBL) rose 0.85 percent after announcing its nine-month net profits were up 10 percent.