Australian shares broke a five-day winning streak on Friday as the recent rally in material stocks paused for breath, while sentiment was further dampened by a weak finish overnight on Wall Street. The S&P/ASX 200 index fell 0.2 percent or 12.2 points to 5,868.8 at the close of trade, but finished the week 0.7 percent higher. The benchmark rose 0.3 percent on Thursday.
Global miner Rio Tinto shed 1.1 percent while gold miner Evolution Mining was among the top losers on the index, falling 5.4 percent. The Australian Financial Review on Thursday reported that JPMorgan and Citi's equities desks are selling 84.6 million shares in Evolution, representing a 5 percent stake.
Telecom stock Telstra Corp fell 1 percent to settle at its lowest close since November 2011. Financials stocks added to the pressure on the index, with Commonwealth Bank of Australia reversing early gains to slip 0.5 percent.
Shares of AMP, which rose as much as 2.7 percent earlier, finished 0.5 percent lower. New Zealand's benchmark S&P/NZX 50 index fell 0.6 percent or 49.81 points to finish the session at 8,323.22. The index finished the week 0.2 percent lower.
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