AU Evening Wrap: Australia Shares Close 0.5% Lower; RIO Rallies

Australia's $S&P/ASX 200(.XJO.AU)$ closed 0.5% lower at 7752.5, as investors consider how interest-rate uncertainty and an escalation of hostilities in the Middle East may affect markets.

IT and healthcare stocks were two of the bigger laggards, closing down 1.8% and 1.0% respectively. $Nextdc Ltd(NXT.AU)$, $Megaport Ltd(MP1.AU)$ and $Life360 Inc(360.AU)$ fell 3.9%, 3.8% and 2.8% respectively. $The Star Entertainment Group Ltd(SGR.AU)$ lost 4.0% as a second public inquiry into its Sydney operations commenced.

Energy and materials stocks performed well, closing in the green. Heavyweights $BHP Group Ltd(BHP.AU)$ and $Rio Tinto Ltd(RIO.AU)$ closed 0.6% and 3.6% higher respectively. $Alumina Ltd(AWC.AU)$ was the day's best-performing stock, rising 6.0%.

Australia's biggest lender $CommBank(CBA.AU)$ closed down 1.4%, while $National Australia Bank Ltd(NAB.AU)$ lost 0.6%. Fellow major banks did better, with $Westpac Banking Corp(WBC.AU)$ rising 0.5% and $ANZ Group Holdings Ltd(ANZ.AU)$ up 0.2%.