Aussie shares pare early losses but finish lower

Only four sectors finished down for the day, but materials stocks were heavy with weakness in large cap miners and some profit-taking in gold miners after last week's rallies.

Health care stocks led the losses, down one per cent as blood plasma giant CSL tumbled 1.8 per cent to $204.05, its lowest price since June 2019.

The Australian dollar held onto recent gains, fetching 66.59 US cents and on par with Friday evening, supported by strong iron ore prices last week and as US rate cut hopes weigh on the greenback.