Australian shares have continued to trader lower on Tuesday, weighed down by tech, telecommunications and real estate.

The benchmark ASX 200 was 0.3 per cent lower at 7,266, while the broader All Ordinaries was down 0.2 per cent and sitting at 7,508 at 12:45pm AEST.

Three sectors were higher on the ASX 200 and eight were lower. Materials and energy were the best-performing sectors, gaining 0.4 per cent and 0.3 per cent respectively. Consumer staples were up 0.2 per cent.

Tech was the biggest drag on the market, down 1.2 per cent. Telecommunications and real estate were down 0.8 per cent and 0.7 per cent respectively. 

Beach Energy, Whitehaven, Paladin Energy, Champion Iron and Aub Group were the top stocks on the main index.

Life360, Zip Co, Nine Entertainment, Tryo Payments and EML Payments were the bottom movers.

The Australian dollar was down 0.2 per cent to 71.82 US cents. 

US markets did not trade because of Memorial Day.

The iron ore futures price rose by 19 cents or 0.1 per cent to $US133.60 a tonne on Monday, as China eased COVID-19 restrictions.

Spot gold was was up 0.6 per cent overnight and selling for $US1,852.50.

On oil markets, Brent crude was up 1.1 per cent and worth $US117.17 per barrel, while West Texas crude was up 1.9 per cent to $US121.72 per barrel.

In Europe, the pan-European STOXX 600 index gained (+0.6pc), along with Germany’s DAX (+0.8pc) and Britain's FTSE (+0.2pc).