ASX closes 0.22% lower, Aussie slides against the Greenback

The news: The Australian sharemarket finished Monday slightly lower, the ASX 200 benchmark losing 0.22% and the All Ordinaries shedding 0.20%. The Aussie lost ground against the Greenback and was fetching 64.0 US cents at 4pm AEST. The World Bank reduced its growth forecast for East Asia and the Pacific as China's slowing growth continues to cause concerns for the global economy.

The numbers: Health care stocks were sluggish, giving up 1.3% by the close, weighed down by Resmed (-2.5%), CSL (-1.7%) and Ramsay Health Care (-1.2%). Consumer staples were down 1.1% while energy stocks and financials lost 0.3%. Metallurgical coal miner Coronado slid 4.9% after a downward guidance revision. Lithium play Sayona Mining was a top-performer gaining 12.9% for the day, a modest clawback after losing more than 50% this year.

The context: Michele Bullock will deliver her maiden interest rate decision as governor after the RBA's monthly meeting tomorrow. Most analysts expect the board to keep the cash rate steady at 4.90%. The Reserve Bank of New Zealand will deliver its rate decision on Wednesday. Overnight, US Federal Reserve chair Jerome Powell will participate in a round table with workers, small business owners and community leaders in New York.