Australia shares post biggest weekly loss in six, banks drag

Fri Jan 24, 2014 12:29am EST

SYDNEY, Jan 24 (Reuters) - Australian shares slipped 0.4
percent on Friday, dragged by selling in big banks as investors
cut positions ahead of a long holiday weekend, while a modest
rebound in miners and firmer gold stocks offered some buffer.
    The S&P/ASX 200 index dropped 22.1 points to
5,240.9. The benchmark fell 1.1 percent on Thursday, hit by
disappointing factory data from China.
    The index finished the week 1.2 percent lower, the biggest
loss in the past six weeks.
    New Zealand's benchmark NZX 50 index fell 0.8
percent to 4,873.7.
      

 (Reporting by Maggie Lu Yueyang; Editing by Jacqueline Wong)