Australian shares weakened on Friday, to end the first week of new year lower as Apple's surprise revenue warning and dismal US factory data fanned worries over the global economy.
The S&P/ASX 200 index .AXJO> lost 0.25 percent to close at 5,619.4 and fell 0.9 percent in a holiday-shortened week. The index had closed over 1.4 percent higher on Thursday. Financials lost 0.3 percent, with Aussie insurers feeling most of the pain after Suncorp Group on Thursday flagged heavy claims following a hailstorm last month in Sydney.
Suncorp, and fellow insurers QBE Insurance and Insurance Australia Group declined between 0.5 percent and 3 percent. The sub-index of information tech stocks closed over 2 percent lower, mirroring Wall Street's dip after Apple's warning bells. Gold stocks saw increased buying on safe-haven appeal, notching their best close in over 6 years. Gold miner Evolution Mining Ltd ended at a record high.
New Zealand's benchmark S&P/NZX 50 index ended 0.1 percent higher, or 11.39 points at 8,743.76. It lost 0.5 percent in the two days it traded this week.
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