News: CSL Banks push Australia shares down; James Hardie dips to 5-month low

May 21 (Reuters) - Australian shares declined on Tuesday, as losses in financial stocks countered gains in miners and tech stocks, while James Hardie Industries plunged to its lowest level in five months.

The S&P/ASX 200 index (xjo) fell 0.1% to 7,857 points by 0047 GMT. The benchmark had risen 0.6% on Monday.

Shares of James Hardie Industries (JHX) were set to emerge as the top losers on the benchmark after the world's biggest fiber cement maker lowered earnings forecast for the fiscal year 2025, citing constrained housing demand in the North American market.

The Reserve Bank of Australia (RBA) is due to release the minutes of its May meeting later in the day, which will offer investors further clues on the central bank's stance on future monetary policy decisions.

A signal of a softening labour market last week came as a sign of relief after RBA warned about inflation risks while keeping interest rates at a 12-year high of 4.35% earlier in the month.

Rate-sensitive financial stocks .AXFJ declined 0.1% with three of the "Big Four" banks trading in the red.

Healthcare stocks .AXHJ fell 0.3%, on track for a third consecutive session of losses. On the other hand, biopharmaceutical giant CSL (CSL) rose 0.2%.

Bucking the trend, miners .AXMM added 0.1% as iron ore futures climbed to multi-month highs.

BHP Group (BHP) added 0.4% while Rio Tinto (RIO) and Fortescue (FMG) lost 0.8% and 0.6%, respectively.

Tracking oversees peers, tech stocks .AXIJ advanced 1.1% with ASX-listed shares of Xero (XRO) and WiseTech Global (WTC) rising 0.8% and 1.4%, respectively.

Energy stocks .AXEJ gained 0.1% and gold stocks .AXGD added 0.2% as bullion prices touched record highs on a mix of Chinese stimulus measures and U.S. rate cut expectations.

New Zealand's benchmark S&P/NZX 50 index (nz50) fell 0.4% or 42.66 points to 11,698.05.