AU Evening Wrap: Australia Shares Lose 0.3%, Paring Weekly Gains

Australia's $S&P/ASX 200(.XJO.AU)$ closed 0.3% lower at 7788.1, paring its weekly gains amid weakness in bank and consumer stocks. The benchmark index spent all of Friday in the red despite a mostly positive lead from the U.S., where tech stocks led a rebound. The ASX 200 rose 0.2% for the week.

Banks $Westpac Banking Corp(WBC.AU)$, $National Australia Bank Ltd(NAB.AU)$ and $CommBank(CBA.AU)$ lost between 0.3% and 0.5% amid continued uncertainty about the pace and timing of potential global interest-rate cuts.

$Domino's Pizza Enterprises Ltd(DMP.AU)$ and casino operator $The Star Entertainment Group Ltd(SGR.AU)$ fell 7.5% and 7.3%, respectively, dragging the consumer discretionaries sector lower.

Supermarket chains $Coles Group Ltd(COL.AU)$ and $Woolworths Group Ltd(WOW.AU)$, whose CEOs will next week appear before lawmakers to answer questions about their market power, both fell 1.1%.