Australia shares hurt by Wall Street tumble; NZ dips

Australian shares extended their losses to a third consecutive session on Friday, weighed by the financial sector, as US stocks slipped overnight after disappointing labour market data.

The S&P/ASX 200 index dipped about a per cent or 55.16 points to 5,703.60 at the close of trade. The declines were broad-based, with nine out of 10 sectors in the red. The benchmark was down 0.3 per cent for the week.

Wall Street fell after data showed US private employers had hired fewer workers than expected in June and applications for unemployment benefits last week rose for a third straight week, pointing to some loss of momentum in job growth.

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