Weak opens are expected Tuesday for the New Zealand and Australia sharemarkets. Losses on Wall Street overnight along with widespread lower prices for commodities are expected to drive markets lower at the open.

The New Zealand and Australian markets rose along with the rest of the majors in the Asia/Pacific region Monday, extending the rally into a new week.

In New Zealand, the benchmark NZX-50 index gained 18.96 points or 0.73 percent to 2,633.4, the third straight higher close.

The New Zealand Stock Exchange reported trading volume of 37.8 million shares worth NZ$63.3 million.

Advancers outnumbered decliners 47 to 30.

Among the most actively traded stocks, Auckland International Airport was unchanged, AMP New Zealand Office Trust was down .02, Fletcher Building gained .30 or 5 percent, Fisher ^ Paykel Appliances was unchanged, F & P Healthcare was down .12, Guinness Peat fell .02, Infratil was unchanged, Nuplex was down a penny and Telecom Corp of NZ was up a nickel.

Among the companies making news, Michael Hill International shares gained .03 after reporting mixed Q3 sales.

Across the Tasman, Australia's market also rose for a third straight session, with the benchmark S&P/ASX200 index posting a gain of 21.0 points or 0.56 percent to finish at 3,756.6. The broader All Ordinaries index was up 22.4 points or 0.61 percent to 3,696.4.

Market turnover totaled 1.82 billion shares valued at A$3.15 billion.

Advancers outnumbered decliners 634 to 392, with 272 unchanged.

Trading took place a day ahead of a monetary policy meeting by the Reserve Bank of Australia.

The financial sector put in a mixed performance, with National Australia Bank up .76 and Westpac Bank up .30 while Australia and NZ Bank dropped .20 and Commonwealth Bank of Australia was down .76.

Among the miners, BHP Billiton was down .60, Rio Tinto dropped A$1.30, Fortescue Metals was down a nickel while OZ Minerals gained two cents.

The gold stocks were lower, with Newcrest Mining down $1.57, Lihir Gold down .19 and Newmont Mining down .55.

In the energy sector, Woodside Petroleum fell .13, Santos was down .19 and Oil Search was up .22.

The March rally on Wall Street ran into an early April bump in the road on Monday, with losses triggered by new pessimism over the financial sector and fears of poor earnings reports in the coming week.

About 40 minutes before the closing bell, the Dow Jones Industrial Average was down 76.8 points or 0/96 percent at 7,940.8. The broader market indicators were also in negative territory, with the Nasdaq Composite Index down 23.1 points or 1.43 percent at 1,598.75, and the Standard & Poor's 500 index down 10 points or 1.2 percent at 832.45.

Markets closed higher across the Asia/Pacific region on Monday.

In Japan, the Nikkei 225 Average was up 108.09 points or 1.24 percent to 8,857.93.

Hong Kong's Hang Seng index rose 452.35 points or 3.11 percent to 14,998.04.

In Indonesia, the Jakarta Composite index advanced 16.28 points or 1.09 percent to 1,516.64.

India's BSE 30 index was up 186.04 points or 1.80 percent to 10,534.87.

The KOSPI/Seoul Composite index in South Korea gained 14.10 points or 1.10 percent to 1,297.85.

The Taiwan Weighted index was up 26.59.

China's market was closed on Monday.

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