AU Evening Wrap: Australia Shares Slip 0.1% Amid Rate Uncertainty

Australia's $S&P/ASX 200(.XJO.AU)$ closed 0.1% lower at 7887.9, retreating from a record high as investors remained uncertain about when the country's central bank might start cutting interest rates. The benchmark index gave back its slight early gains after the release of minutes from the Reserve Bank of Australia's most recent decision to hold the cash rate at 4.35%.

Eight of 11 sectors finished lower, with commodity stocks performing best. Iron-ore majors $Rio Tinto Ltd(RIO.AU)$ and $BHP Group Ltd(BHP.AU)$ added 0.7% and 1.9%, respectively, while gold miners $Gold Road Resources Ltd(GOR.AU)$, $Newmont Corp(NEM.AU)$, $Evolution Mining Ltd(EVN.AU)$ and $West African Resources Ltd(WAF.AU)$ added between 4.4% and 6.25%.

Shares of major banks were mixed. $National Australia Bank Ltd(NAB.AU)$ added 0.5%, $Westpac Banking Corp(WBC.AU)$ and $ANZ Group Holdings Ltd(ANZ.AU)$ were flat, and $CommBank(CBA.AU)$ lost 0.2%.