(Reuters) - Australian shares barely moved on Friday, as strong gains in health care stocks were countered by weakness in banks.
The S&P/ASX 200 index <.AXJO> inched up 0.10 points to 6,268.4 at the close of trade. The benchmark jumped 0.9 percent on Thursday.
The index of health care stocks <.AXHJ> jumped 1.5 percent to a record high. The defensive sector has significant exports to the U.S., and benefits from weakness in the local currency.
Index heavyweight CSL Ltd <CSL.AX> climbed 2 percent to its highest ever and was the biggest boost to the benchmark.
Bionic-ear maker Cochlear Ltd <COH.AX> rose 3.2 percent and also closed at a record high, while Australia-listed shares of Resmed Inc <RMD.AX> firmed 0.8 percent.
But financials stocks fell, countering market gains from health care shares.
Commonwealth Bank of Australia <CBA.AX>, the biggest lender, slipped 0.5 percent and was the biggest drag. Australia and New Zealand Banking Group Ltd <ANZ.AX> dropped 0.7 percent.
In New Zealand, the benchmark S&P/NZX 50 index <.NZ50> climbed 0.4 percent or 38.72 points to finish the session at 9,024.19. The benchmark had a weekly loss of 0.7 percent, its biggest since April.
Utilities and consumer discretionary stocks led the upward charge on Friday, with Infratil Ltd <IFT.NZ> jumping 2 percent on Friday. Skycity Entertainment Group Ltd <SKC.NZ> rose 1.5 percent.
(Reporting by Aditya Soni in Bengaluru; Editing by Richard Borsuk)
