Australian shares closed lower on Friday but recorded their first weekly gain in three weeks

Australian shares closed lower on Friday but recorded their first weekly gain in three weeks, as investors paused amid US President Donald Trump's new tariffs on imports from more than 90 countries.
The tariffs, which pushed the US effective import rate above 17 per cent - the highest since the Great Depression - took effect on Thursday.
The S&P/ASX 200 Index was down 0.3 per cent, or 24.3 points, to 8807.1 on Friday. However, the index still recorded a 1.7 per cent gain for the week.
Investors now turn to a crucial week ahead, with the Reserve Bank expected to cut rates on Tuesday and key earnings from Commonwealth Bank, JB Hi-Fi, and others due.
IG analyst Tony Sycamore said the ASX 200 was consolidating after a three-day rally that saw a record high on Wednesday.
"The market's next move depends on next week's RBA meeting, Thursday's labour report, and earnings updates," he said.
Materials were the strongest amid gold prices trading above $US3400 per ounce, as tariffs kicked in and Trump named a temporary US Federal Reserve governor expected to echo his calls for lower interest rates.
Newmont rallied 2.2 per cent to $106.68, Northern Star by 4 per cent and Westgold Resources by 6.2 per cent to $3.08. Fortescue Metals added heavyweight support, up 1.8 per cent to $18.85 as it became the first Australian company to secure a 14.2 billion yuan ($3 billion) syndicated loan from China.
Financials weighed as QBE dived 8.8 per cent to $21.39 as some analysts questioned whether the inclusion of past years' reserves had artificially inflated how profitable it was.
Among the banks, Westpac fell 1 per cent to $33.66, National Australia Bank and Commonwealth Bank both fell 0.9 per cent, while ANZ lost 0.2 per cent. AMP gained 7.1 per cent to $1.88 following a series of broker upgrades.

Sumber : AFR