(Reuters) – Australian shares closed lower in a low-volume session on Monday, with financials and consumers stocks weighing the most.
The S&P/ASX 200 index .AXJO swung between gains and losses throughout the session before settling 0.2% lower at 5,952.3. More than 571.9 million shares changed hands, compared with the 30-day average of 803.6 million shares.
Heavyweight financial stocks .AXFJ were among the biggest drags on the index, losing 0.6% after a 3.7% jump in the previous session.
All “Big Four” banks closed in negative territory, with top lenders Commonwealth Bank of Australia CBA.AX and Westpac Banking Corp WBC.AX losing 1% and 1.1%, respectively.
“Banks are seeing profit-taking after a big move last week,” said Henry Jennings, a senior analyst and