The S&P/ASX 200 index settled 0.1 per cent lower at 6,995.2 points at close of trade, applying brakes on its longest winning run since early December.
Australia on Thursday made a policy shift to recommend the use of Pfizer’s Covid-19 vaccine for people over 50 amid concerns about links to risks of blood clots with AstraZeneca’s shot.
“It seems Pandora’s box has been opened with the AstraZeneca news,” Brad Smoling, managing director at Smoling Stockbroking said.
“With the government declaring that the vaccine will not be mandatory, the societal divide is now in full swing and the negative news is becoming louder.”
Healthcare stocks tumbled 0.8 per cent with sector giant
, which has the contract to make 50 million doses of AstraZeneca’s vaccine domestically, dropping as much as 1.4 per cent.
Energy stocks fell 0.7 per cent after U.S. oil prices eased overnight. Woodside Petroleum and Santos fell as much as 1.4 per cent and 1.5 per cent, respectively.
However, not all commodities delivered lacklustre performances. Gold stocks firmed 1.7 per cent in their fifth straight session in the black, as overnight bullion prices hit their highest since February.
Tech shares gained 0.7 per cent, reflecting a strong run in Wall Street overnight.
Index heavyweight Afterpay hit its highest in more than one month after the buy-now-pay-later bellwether said its stake in the booming U.S. business had increased to 91 per cent.
New Zealand’s benchmark S&P/NZX 50 index closed 0.5 per cent lower at 12,574.4.
