Australian shares ended 0.7 percent lower on Friday led by an across-the-board selloff and as investors locked in profit from a recent bounce ahead of a long weekend. The S&P/ASX 200 index fell 36.31 points to 5,236.4 at the close of trade. The benchmark, which rose the past three days, ended up 1.53 percent for the week. It rose 4.5 percent the previous week. New Zealand's benchmark S&P/NZX 50 index slipped 0.6 percent or 39.99 points to finish the session at 6,866.11.
During midday trade, the S&P/ASX 200 index was down about 0.2 percent, or 7.9 points, at 5,264.8 by midday, having earlier fallen as much as 0.9 percent. The benchmark, which rose the past three days, was still up more than 2 percent for the week. The major miners BHP Billiton and Rio Tinto eased, while the big banks were mostly firmer though Commonwealth Bank was flat. New Zealand's benchmark S&P/NZX 50 index shed 0.5 percent, or 33.8 points, to 6,872.4, taking a breather after reaching record peaks in the past seven sessions. It was up 0.4 percent on the week.
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