News: XIJ Australian shares drop for second day on rate hikes worries

April 7 (Reuters) - Australian shares tracked Wall Street lower on Thursday, as rate-sensitive tech and growth stocks slid on worries about tighter monetary policies by central banks.

The S&P/ASX 200 index (xjo) fell 0.49% to 7,453.7 points by 0101 GMT. The benchmark closed 0.5% lower on Wednesday.

Australia's central bank opened the door to the first interest rate increase in more than a decade on Tuesday, while minutes from the recent Fed meeting also suggested a more aggressive stance on rates.

Domestic tech shares .AXIJ dropped as much as 3.2% to hit a more than one-week low, tracking tech-heavy Nasdaq .IXIC lower.

ASX-listed shares of Block Inc (SQ2) led the sell-off on the sub-index, skidding 4.8% to their worst session in nearly three weeks. Battery materials maker Novonix (NVX) dropped 5.5%.

Energy stocks .AXEJ shed 0.9% after a sharp fall in oil futures overnight as large consuming nations said they would release oil from reserves to counter tightening supply.

Sector heavyweights Woodside Petroleum (WPL) and Santos (STO) fell 1.7% and 0.9%, respectively.

Theme park operator Ardent Leisure Group (ALG) jumped 9.7% to eye its best day since Feb. 25 after it sealed the sale of its U.S. entertainment business, Main Event, to Dave & Buster's Entertainment PLAY.O for $835 million.

New Zealand's benchmark S&P/NZX 50 index (nz50) fell 0.5% to 12,019.4 points.