The Australian share market ended the week about 0.1% lower after a choppy period in which it reached a fresh five-week high on Monday before retreating.
Trading was largely flat on Friday, with CommSec’s Stephen Dagley saying the result could have been worse given the technology sell-off in the United States.
Retailers were among the weakest performers. Furniture seller Nick Scali fell sharply after issuing a profit warning, with shoppers becoming more cautious about their spending.
The news also put pressure on other retail stocks, including Harvey Norman and Temple & Webster. Fortescue declined following its quarterly update.
NextDC recovered some ground after plunging by more than 40% the previous day. The major banks also advanced, helping offset losses elsewhere in the market.
The Australian dollar moved above US$0.70 as the week came to a close.
