News: XGD Australia shares retreat as banks, technology, healthcare stocks drag

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.