Australian shares ended lower on Tuesday, after minutes from the central bank's last meeting showed it had considered raising rates before deciding to stand pat while a drag in building materials maker James Hardie offset a rally in tech shares.

The S&P/ASX 200 index fell 0.2% to 7,851.70 points at the close of trade. The benchmark had gained 0.6% on Monday.

Minutes from the Reserve Bank of Australia's (RBA) May board meeting showed the central bank considered increasing its 4.35% cash rate due to higher inflation risks, before holding it steady.

Analysts at ANZ Research said in a note that any resumption of tighteining from the RBA if it sees inflation was unlikely to return to the band over the next few years.

James Hardie Industries, the largest global maker of fibre cement products, emerged as the top loser on the benchmark after it lowered fiscal 2025 outlook as high interest rates have kept a lid on housing demand.

Casino operator Star Entertainment Group ended the day 7.4% lower, after Hard Rock International, the chain that runs the storied Hard Rock Cafe hotels and restaurants, denied any involvement in a takeover bid.

Diagnostics firm Sonic Healthcare was among the top drags for the day, after flagging lower-than-expected earnings reflecting inflation and currency exchange impacts.

Tech stocks rallied after Nasdaq ended at a record high overnight.

Shares in tech major Block rose 1.2%.

Telecom operator Telstra Group ended 2.7% lower after it announced intention to cut up to 2,800 jobs in bid to streamline operations amid stiff market competition from cheaper communication services.

Mining stocks ended 0.04% lower despite a rise in iron ore prices.

Gold stocks closed 0.6% lower as bullion fell from a record high.

New Zealand's benchmark S&P/NZX 50 index closed 0.5% lower to finish the session at 11,675.99 points.

(Reporting by Sherin Sunny in Bengaluru; Editing by Mrigank Dhaniwala)