ASX 200 logs worst session in 2 weeks
Inflation prints from U.S. and China this week
Healthcare stocks snap 3-day winning streak
Australian shares fell on Monday, dragged by losses in heavyweight miners as commodity prices declined on demand concerns from top consumer China, while investors exercised caution ahead of critical data this week.
The S&P/ASX 200 benchmark index (xjo) closed 0.8% lower at 7,763.2 points at the end of its worst session in two weeks. The benchmark rose 0.7% last week.
"Markets leaned in a risk-averse direction to kick off the new week ahead of some key upcoming events," said Tim Waterer, chief market analyst at KCM Trade.
"The heavy economic calendar this week kept risk appetite in check today."
On Thursday, the U.S. inflation reading is expected to offer further clues on the Federal Reserve's future policy decisions after June unemployment rate touched a 2-1/2-year high, boosting rate cut hopes.
Meanwhile, Australian equities will be sensitive to how the Chinese inflation data plays out on Wednesday, with an eye on any signs of price pressures starting to appear in the world's second largest economy, KCM Trade's Waterer said.
Mining stocks .AXMM lost 1.8% with giants BHP Group (BHP) , Rio Tinto (RIO) and Fortescue (FMG) declining between 2% and 2.6%.
Healthcare stocks .AXHJ snapped a three-day winning streak to end 1% lower.
Top pharmaceutical firm CSL (CSL) recorded its worst session in more than seven weeks and lost 1.5%.
Rate-sensitive financials .AXFJ retreated 0.3% with three of the "Big Four" banks losing between 0.04% and 0.5%.
Energy stocks .AXEJ shed 1.5% during their worst session in two weeks. Crude prices declined on easing of Middle East tensions and a potential supply disruption from the U.S.
Across the Tasman Sea, New Zealand's benchmark S&P/NZX 50 index (nz50) fell 0.4% to 11,745.53 points.
The country's central bank is expected to keep the cash rate unchanged at 5.50% on Wednesday. Interest rate futures price in around 40 basis points of rate cuts this year.
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News: XHJ Australia shares end lower; eyes on key data points this week
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