Aussie shares fall as Trump tariff threats keep investors wary

Australian shares edged lower on Monday, weighed down by losses in healthcare stocks that overshadowed gains in gold stocks and miners, as cautious investors monitored fresh tariff threats from U.S. President Donald Trump.

The S&P/ASX 200 index XJO fell 0.1% to 8,571.9 by 0020 GMT. The benchmark had closed the last session 0.1% lower.

On Friday, Trump proposed raising the baseline tariff on countries to 15% or 20% from the current 10%, and a day later, threatened to impose 30% duties on most goods from the European Union and Mexico starting August 1 despite ongoing negotiations.

Australia faces a 10% baseline tariff on most exports to the U.S.

On the local bourse, healthcare stocks XHJ lost 0.4%, leading the fall. Last week, Trump said he plans to announce tariffs of up to 200% on imported pharmaceuticals, but added he would give drugmakers about a year "to get their act together."

Healthcare major CSL CSL dropped 0.2%.

Information technology stocks XXIJ followed and dropped 0.1%, with NEXTDC NXT shedding 0.1% and ASX-listed shares of Block XYZ slipping 4.4%.

Meanwhile, miners XXMM rose 0.4%, tracking a surge in iron ore prices.

Mining majors BHP BHP and Rio Tinto RIO gained 0.8% each.

Gold stocks XGD also advanced, adding 1.7% as bullion prices rose.

Evolution Mining EVN and Northern Star Resources NST were up 1.1% and 1.2%, respectively.

Energy stocks XEJ climbed 0.8%, tracking a rise in oil prices. Oil and gas firm Woodside Energy WDS rose 0.7% and Santos STO added 0.4%.

In company news, Abacus Storage King ASK gained 5.1% after the company said it got a sweetened A$2.17 billion ($1.43 billion) buyout offer from a consortium involving Ki Corporation and U.S.-listed Public Storage PSA.

Diversified miner South32 S32 dipped more than 5% after flagging impairment at its Mozal aluminium smelter in Mozambique.

New Zealand's benchmark S&P/NZX 50 index NZ50G fell 0.3% to 12,645.22.

($1 = A$1.5195)