Aussie shares fall as Trump tariff threats keep investors wary
The S&P/ASX 200 index fell 0.1% to 8,571.9 by 0020 GMT. The benchmark had closed the last session 0.1% lower.
On Friday, Trump proposed raising the baseline tariff on countries to 15% or 20% from the current 10%, and a day later, threatened to impose 30% duties on most goods from the European Union and Mexico starting August 1 despite ongoing negotiations.
Australia faces a 10% baseline tariff on most exports to the U.S.
On the local bourse, healthcare stocks lost 0.4%, leading the fall. Last week, Trump said he plans to announce tariffs of up to 200% on imported pharmaceuticals, but added he would give drugmakers about a year 'to get their act together.'
Healthcare major CSL dropped 0.2%.
Australian shares inch lower as banks, gold stocks drag; Johns Lyng surges
Information technology stocks followed and dropped 0.1%, with NEXTDC shedding 0.1% and ASX-listed shares of Block slipping 4.4%.
Meanwhile, miners rose 0.4%, tracking a surge in iron ore prices.
Mining majors BHP and Rio Tinto gained 0.8% each.
Gold stocks also advanced, adding 1.7% as bullion prices rose.
Evolution Mining and Northern Star Resources were up 1.1% and 1.2%, respectively.
Energy stocks climbed 0.8%, tracking a rise in oil prices. Oil and gas firm Woodside Energy rose 0.7% and Santos added 0.4%.
In company news, Abacus Storage King gained 5.1% after the company said it got a sweetened A$2.17 billion ($1.43 billion) buyout offer from a consortium involving Ki Corporation and U.S.-listed Public Storage.
Diversified miner South32 dipped more than 5% after flagging impairment at its Mozal aluminium smelter in Mozambique.
New Zealand's benchmark S&P/NZX 50 index fell 0.3% to 12,645.22.
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