The Australian share market has turned lower, coming off the early-session boost provided by the banks and miners.

At noon AEDT, local market indices were down around half a per cent after being around half a per cent higher shortly after the open.

US trading boards were closed overnight for that country’s Presidents Day national public holiday.

Locally, shares in investor darling, CSL were down 76 cents at $103.67 after the vaccine giant lifted its half year net profit 3.8 per cent, helped by strong revenue growth of key products.

Rail and ports operator Asciano shed three cents to $8.87 after it recommended shareholders accept a $9.01 billion offer from a consortium led by local stevedore Qube Holdings.

As sectors, the financials were 1.4 per cent lower while the materials were up 1.3 per cent.

Commonwealth Bank, which is trading ex-dividend, was down $2.23, or 4.3 per cent, at $71.07.

Watchers were also mulling over the minutes of the Reserve Bank’s February board meeting in which the central bank appears upbeat on the home front but won’t rule out another interest rate cut in the face of an uncertain global economy.

KEY FACTS:

* At 1200 AEDT on Tuesday, the benchmark S&P/ASX200 index was down 25.0 points, or 0.52 per cent, at 4,818.5 points.

* The broader All Ordinaries index was down 19.5 points, or 0.4 per cent, at 4,873.8 points.

* The March share price index futures contract was down seven points at 4,778 points, with 16,506 contracts traded.

* At 1207 AEDT, national turnover was one billion securities traded, worth $2.1 billion.