May 17 (Reuters) - Australian shares slipped on Friday, tracking overnight fall in Wall Street and snapping a two-day winning streak, led by losses in the financial sub-index as investors continue to re-calibrate their positions on the global rate hike trajectory.
The S&P/ASX 200 index (xjo) fell 0.4% to 7,852.1 by 0049 GMT. The benchmark, however, was on track to record its fourth consecutive week of gains. It ended 1.7% higher on Thursday.
Rate-sensitive financials sub-index .AXFJ slipped by 0.5% with shares of the "Big Four" banks falling between 0.6% and 0.9%.
However, the sub-index was on track to record its fourth consecutive week of gains with a 0.7% rise in the week.
Energy stocks .AXEJ slumped 0.4% with sector heavyweights Woodside (WDS) and Santos (STO) shedding 0.3% and 0.4% respectively.
Technology stocks .AXIJ tracked their overseas peers lower, by losing 1%. Shares of Xero (XRO) and ASX-listed Block (SQ2) slipped by 2.1% and 0.6%, respectively.
Healthcare stocks .AXHJ were down 1.1%, with Ramsay Health Care (RHC) and biotech giant CSL (CSL) each recording a fall of 1.1%.
Among other sectors gold stocks .AXGD slipped by 0.8%, on lower bullion prices, while local real-estate stocks .AXRE shed 1.0%.
However, heavyweight mining stocks .AXMM gained 0.7% with mining behemoths BHP Group (BHP) , Rio Tinto (RIO) and Fortescue (FMG) advancing between 0.8% and 1.2%.
Across the Tasman Sea, New Zealand's S&P/NZX 50 index (nz50) fell by 0.4% to 11,677.91. The benchmark was on track to record its second straight week of losses.
Investors now await the Reserve Bank of New Zealand's monetary policy decision due next week. A Reuters poll showed that the central bank would leave its key interest rate unchanged and be at a hold at least until the end of September.
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News: XEJ Australia shares retreat as banks, technology, healthcare stocks drag
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Dani Nadri, Country Manager Australia
Dani Nadri
Country Manager Australia
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