Australia: Shares end lower on fears of a long US-China trade war

Australian shares ended lower on Friday, dragged down by financials and energy stocks as more investors price in the possibility of a protracted Sino-US trade war.[SYDNEY] Australian shares ended lower on Friday, dragged down by financials and energy stocks as more investors price in the possibility of a protracted Sino-US trade war.

Despite Friday's losses, the S&P/ASX 200 index notched a weekly gain of 1.4 per cent, its best performance in four weeks. The advance stems largely from optimism after Prime Minister Scott Morrison surprisingly won Australia's May 18 election.Worries over Sino-US trade tensions kept global markets subdued through the week, with investors anxious about the possible impact on the global economy of a long trade war.

New Zealand's benchmark S&P/NZX 50 index fell 0.4 per cent or 41.05 points to 10,222.36, but notched a weekly gain of 0.4 per cent.

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