SYDNEY: Australian shares closed lower on Monday, snapping four straight sessions of gains, as a spike in domestic cases of the novel coronavirus forced fresh restrictions and renewed fears of further economic pain.
The S&P/ASX 200 index closed 0.7% lower at 6,014.6. For the year so far, the index has shed 9.37%.
Among sectors, miners fell 1.2% led by BlueScope Steel Ltd that fell 3.25% after Morgan Stanley downgraded its rating and cut price target on the stock.
The healthcare index lost about 1.8%, with heavyweight CSL Ltd down over 2%.
Losses among industrial stocks also weighed on the benchmark, with toll road operator Transurban Group shedding more than 2%.
Construction firm ADBRI Ltd was the biggest percentage loser on the benchmark, after multiple brokerages raised concerns over the company's loss of a lime supply contract with Alcoa.
The number of issues on the ASX that advanced were 851, while 696 declined.
Across the Tasman sea, New Zealand's benchmark S&P/NZX 50 index rose 0.8%, helped by gains among utility stocks like Meridian Energy that rose 2.6%.
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