Updates to close
ASX 200 logs weekly loss
Healthcare posts biggest weekly fall in nearly three months
REA Group extends gain
By Kumar Tanishk
Feb 7 (Reuters) - Australian shares closed flat on Friday, as losses in healthcare and energy firms offset gains in mining and tech stocks, while REA Group hit a fresh record on better-than-expected quarterly earnings from the parent company, News Corp.
The S&P/ASX 200 index .AXJO closed 0.1% lower at 8,513.7 points, just shy of its record high of 8,566.90 points touched last week. The benchmark index lost 0.2% this week after logging four straight weekly gains.
The week was marked by uncertainties in international trade, as U.S. President Donald Trump imposed and then paused tariffs on Mexico and Canada.
Further escalation in trade tensions seems inevitable, but Australia is well-positioned to minimize the impact of tariffs, said Mantas Vanagas, senior economist at Westpac.
Australia has a trade deficit with the U.S., with small trade volumes compared to Canada, Mexico, China, and the European Union, and its exports to the U.S. are diverse, meaning no single U.S. industry would significantly gain from trade restrictions on Australia, Vanagas said.
Export-reliant miners .AXMM rose for a fourth straight session, gaining 0.3% on the day, driven by strong underlying commodity prices. The index posted its biggest weekly gain since January 13. IRONORE/ MET/L
Lynas Rare Earths LYC.AX topped gains on the sub-index, jumping 6.1%.
Technology sub-index .AXIJ advanced 0.5% in tandem with its U.S. peers. Networking technology developer Audinate AD8.AX topped the sub-index, adding 5.6%. .N
Bucking the trend, healthcare firms .AXHJ fell more than 1%. The index lost 3.1% this week, marking its steepest weekly drop in nearly three months.
Ramsay Health Care RHC.AX declined the most on the sub-index, last down 2.6%.
In corporate news, News Corp NWA.AX owned REA Group REA.AX hit a record high of A$266.44 and was last up 2.8%.
Domino's Pizza Enterprises DMP.AX soared over 20% after it said it would close down 205 loss-making local stores.
In New Zealand, the benchmark index .NZ50 ended 0.4% higher at 12,902.19 points.
(Reporting by Kumar Tanishk in Bengaluru; Editing by Eileen Soreng)
((Tanishk.Kumar@thomsonreuters.com;))
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