Australian shares close lower

SYDNEY: Australian shares closed lower on Friday as the healthcare rally paused and Goodman Group led real estate stocks lower, while the benchmark posted another weekly loss due to growth concerns for heavyweight banks. The S&P/ASX 200 index closed down 0.3 percent at 9,058.90 points.

The benchmark shed 0.6 percent this week, extending the previous week’s losses amid concerns over major banks’ growth following revelations of a decline in mortgage applications. Healthcare stocks shed 1.8 percent, pausing a rally that allowed for a 9.2 percent weekly gain. CSL, which led the rally, ended down 1.7 percent on the day.