Australian shares down

Australian shares finished at the lowest in over four months on Friday, shadowing lower US stocks ahead of a US presidential election next week that has investors on the edge. Many polls show Republican candidate Donald Trump gaining ground on Democrat Hillary Clinton, seen by may as the status quo candidate, in the race for the White House.
Investors are also watching out for US payrolls data later in the Global day which could impact the likelihood of a Federal Reserve rate rise next month. The S&P/ASX 200 index was down 0.9 percent, or 44.75 points, at 5,180.8, the lowest since the end of June. The benchmark dropped for a fourth straight week, shedding 2 percent. National Australia Bank shares, which traded ex-dividend, fell 6 percent, while shares in lender mortgage insurer Genworth Mortgage's plunged 7.6 percent on poor earnings. The Australian main index incurred losses across all sectors besides utilities, which made negligible gains.
The New Zealand benchmark index also closed at its lowest since end of June, falling over 1 percent, or 70.47 points, to 6,708.47. The benchmark lost 3.2 percent over the week, its fifth consecutive weekly decline. If Trump wins, it will have a "very poor outcome" on the market, said Hugh Dive, senior portfolio manager at Aurora Funds Management.
However, "with the balance of power between legislative and judicial executive, it really limits what he can actually do," Dive added. Financial stocks were among the biggest losers, with the S&P ASX 200 Financials (GIC) down 1.2 percent. National Australia Bank Ltd dropped 5.5 percent as shares trade ex-dividend, while Commonwealth Bank of Australia declined 0.8 percent.
The S&P ASX 200 Energy (GIC) declined 1.2 percent after global oil prices dropped over a record weekly surge in US crude inventories. Index heavyweight Woodside Petroleum Ltd fell 1 percent, while Origin Energy Ltd was down 2.3 percent. Mayne Pharma Group Ltd slumped 13.8 percent after it issued an update of an investigation by the US Department of Justice (DOJ).
Lenders mortgage insurer Genworth Mortgage Insurance Australia Limited posted its biggest percentage loss in nearly 15 months, after it reported third quarter statutory net profit after tax was down 28.7 percent from last year. New Zealand's consumer and technology stocks led the losses on the index. Trade Me Group Ltd fell 3.7 percent, and Fletcher Building Ltd shed 1.7 percent.