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By

Australian shares edged lower in early trade on Friday, with broad weakness among the big banks offsetting gains by the country's export-focused healthcare stocks, including biotech major CSL Ltd.

The benchmark ASX 200 index dipped 0.1% to 7,421.9 within the first hour of trade in low volumes. The index is set to post a fourth weekly rise if its minor gains hold.

CSL, one of Australia's largest companies, rose 1.5%, while the country's "Big Four" banks fell between 0.4% and 0.9%.

ResMed's local shares jumped around 6% after its first quarter earnings beat estimates.

Macquarie beat expectations with a record first half profit - more than double the previous year's - powered by volatile commodity markets, though its shares were halted ahead of a A$1.5 billion placement.

Westpac Banking Corp on Monday will report full year results, after Australia and New Zealand Banking Group kicked things off on Thursday.

Australia's central bank on Friday again declined to defend its 0.1% 2024 bond yield target, reinforcing expectations that the central bank would announce some revision of the target at its November policy meeting next week.

New Zealand's benchmark NZX 50 index rose over 0.3% to 13,011.21 points with diary producer a2 Milk firming around 3%.

Elsewhere, Japan's Nikkei was up 0.12% and S&P 500 E-minis futures were down 0.27%.

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