Australian shares skidded on Friday as data in China showed the economy of the Pacific nation's biggest trading partner losing further momentum, underlining the risks to global growth from the Sino-US trade dispute. The S&P/ASX 200 index fell 1.1 percent to close at 5,602. The benchmark declined 1.4 percent this week, its biggest weekly drop since mid-November, after the index hit a two-year low earlier on Monday.
The gloomy data from China triggered a broad risk-off mode in regional markets, with the MSCI's broadest index of Asia-Pacific shares outside Japan tumbling 1.4 percent. Global miners BHP Group and Rio Tinto, which are heavily exposed to China, fell as much as 1.4 percent and 1.7 percent, respectively. These losses saw the metal and mining sector turning down as copper prices headed south on China demand worries.
Those same concerns pulled the energy index down 1.3 percent, with stocks slipping on lower oil prices, as investors cashed in gains of more than 2 percent made during the previous session. Oil Search was among top percentage losers, ending 2.3 percent lower, followed by Santos Ltd which also declined about 2 percent and touched its lowest since November 26 earlier in the day. New Zealand's benchmark S&P/NZX 50 index fell 0.8 percent or 70.66 points to finish the session at 8,722.51.
A2 Milk fell 3.4 percent and was among worst performers, along with Fisher and Paykel Healthcare which fell 4.2 percent, to its lowest in over a year.