Banks, healthcare stocks drag Australian shares lower; ASIC sues NAB
Nov 18 (Reuters) -Australian shares fell on Monday, dragged down by financial and healthcare stocks, while the country's corporate watchdog sued National Australia Bank for breach of financial hardship laws.
The S&P/ASX 200 index .AXJO fell 0.2% to 8,270.5 by 0014 GMT after two straight sessions of gains.
Interest rate-sensitive financials .AXFJ declined 0.8% after two straight sessions of gains, with the "big four" banks down between 0.6% and 1.8%.
The Australian Securities and Investments Commission launched civil penalty proceedings against National Australia Bank NAB.AX for failing to respond to hundreds of financial hardship applications within the legally mandated time frame.
Shares of the country's second-largest lender fell as much as 1.9%.
Healthcare stocks .AXHJ declined 1.1% with CSL CSL.AX, the country's priciest stock, down 2%.
U.S. President-elect Donald Trump said on Thursday he has selected Robert F. Kennedy Jr., a known anti-vaxxer, to lead the Department of Health and Human Services.
IT stocks .AXIJ lost 1.1%. The U.S. Dow Jones Industrial Average .DJI fell 0.70% on Friday. The S&P 500 .SPX lost 1.32%, while the Nasdaq .IXIC lost 2.24%.
In corporate news, Resolute Mining RSG.AX said it would pay $160 million to Mali's government to help resolve a tax dispute after the West African country detained its CEO Terence Holohan and two other employees this month.
Resolute shares fell as much as 14.3%, hitting their lowest level since March 1.
Capping the losses on the benchmark stock index, heavyweight miners .AXMM climbed 0.9% despite a dip in iron ore prices.
Sector giants BHP Group BHP.AX rose 0.5%, while Rio Tinto RIO.AX gained 1.2%.
Energy stocks .AXEJ climbed 1%, with Woodside Energy WDS.AX and Santos STO.AX both trading largely flat.
In New Zealand, the benchmark S&P/NZX 50 index .NZ50 fell 0.2% to 12,656.2, as of 0014 GMT.
Reporting by Rajasik Mukherjee in Bengaluru; Editing by Subhranshu Sahu
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