Australian shares fell again on Friday as most Asia-Pacific markets kept slumping, partly because of the possibility the US-China trade war could escalate any time. The S&P/ASX 200 index dropped 0.3 percent to 6,143.8 at the close, extending its losses to a seventh straight session.
For the week, the index shed 2.8 percent, its biggest weekly loss since early February. President Donald Trump has threatened to impose tariffs on an additional $200 billion worth of imports from China. He could act anytime, as the public comment period in Washington for proposed tariffs ended at 0400 GMT Friday.
China has warned it will retaliate if Washington implements any new measures.
Financial stocks also extended their losing streak to seven sessions, as revelations of widespread wrongdoing in a high-profile Royal Commission inquiry have dogged investors of late.
The day's losses came after Australia and New Zealand Banking and Commonwealth Bank of Australia followed Westpac Banking Corp in raising mortgage rates.
New Zealand's benchmark S&P/NZX 50 index was a fraction lower, dropping 6.21 points to finish at 9,095.39. a2 Milk Company fell 2.2 percent and Ryman Healthcare gained 3 percent.