US stocks have receded to end the S&P 500's longest run of gains this year, as the continuing surge in coronavirus cases worried investors.
Afterpay shares are in a trading halt as the company raises $800 million in a capital raising, and the founders also sell down 10 per cent of their stake.
Wall Street has rallied after US services industry activity rebounded in June, and investors focused on signs of an economic revival in China.
The ASX has closed down 43 points with every sector finishing in the red except for tech stocks, and bypassed by a rally in Asian markets.
The Reserve Bank of Australia is widely expected to leave rates on hold on Tuesday, but may talk about the economy, jobs and fiscal stimulus measures.
Pharmaceuticals provider Mayne Pharma has signed a manufacturing deal with Novast Laboratories of China to produce 13 oral contraceptives for the US.
Cinema and hotel operator Event will not pay the final dividend in FY20 and the interim dividend in FY21 amid the impact of the coronavirus pandemic.
The Australian share market has finished the week up 2.6 per cent after four straight days of gains, closing 0.4 per cent higher on Friday.
Revised figures show that Australian retail trade rose 16.9 per cent in May, rather than the 16.3 per cent indicated in preliminary figures released on June 19.
Rio Tinto has cut reserves at its Oyu Tolgoi copper project in Mongolia but expects the schedule and costs to stay in line with previous estimates.
Australian hearing implant provider Cochlear has secured approval to introduce four products, including smaller sound processors, to the US and Europe.