Australian shares slip; New Zealand edges up

Australian shares ended lower on Tuesday with financial stocks the biggest drag as QBE Insurance tumbled after the company said rising disaster claims could hurt earnings and as a decline in the oil price hit energy firms. The S&P/ASX 200 index fell 0.5 percent, or 27.93 points, to 5,701.40 at the close of trade.
Australia's biggest insurer QBE Insurance Group closed the day 3.5 percent down after it announced a $600 million earnings hit on its business from hurricanes in the Atlantic and earthquakes in Mexico. New Zealand's benchmark S&P/NZX 50 index rose 0.06 percent, or 4.53 points to finish the session at 7,933.42, supported by healthcare and utility stocks.