The Australian stockmarket has closed lower after disappointing Chinese manufacturing figures caused a sell off.
It's the third straight week that local shares have finished in the red.
Bell Direct equities analyst Julia Lee said most sectors came under pressure as the local market finished 1.2 per cent lower over the week and down 2.1 per cent for the year to date.
"The key concern this week has been around iron ore prices hitting a six month low together with the weaker numbers coming out of China, so it's not surprising to see the materials sector coming under pressure," Ms Lee said.
The consumer discretionary sector was also heavily under pressure due to recent downgrades.
Global markets took a hit after the HSBC purchasing managers' index on Thursday showed Chinese manufacturing activity fell to a six-month low in January, with a reading of 49.6, down from December's 50.5, causing Australia's market to fall on the data.
Among the big resources companies BHP Billiton finished flat at $37.04, while Rio Tinto was 49 cents higher at $65.16.
Iron ore miner Fortescue was one cent lower at $5.23 while gold miner Newcrest gained 35 cents to $9.48 following a rise in the gold price.
The major banks all finished lower, with Westpac down 32 cents to $31.12 and ANZ 32 cents lower at $30.65, while National Australia Bank lost 34 cents to $33.83 and Commonwealth Bank 39 cents lower at $75.74.
Meanwhile, shares in The Reject Shop plunged $5.40, or 32 per cent, to $11.50 following a disappointing sales result.
The result weighed heavily on consumer discretionary stocks.
Disappointing US sales also took the shine off a record profit result from medical device maker ResMed, with its shares down 26 cents, or 4.9 per cent, to $5.00.
Shares in engineering group Forge, which last traded at 90 cents, have gone into a trading halt pending an announcement by the company.
Agricultural chemicals and seeds supplier Nufarm dumped eight cents to $4.09 after announcing it expected to meet its first half guidance but towards the lower end of the range.
Warrnambool Cheese and Butter Factory shed 4.5 cents to $9.43 after Murray Goulburn sold its 17.7 per cent shareholding to Canadian diary giant Saputo.
- At the close on Friday, the benchmark S&P/ASX200 index was 22.1 points, or 0.42 per cent, lower at 5,240.9.
- the broader All Ordinaries index was down 21.2 points, or 0.4 per cent, at 5,254.3.
- The March share price index futures contract was 28 points lower at 5,200, with 26,901 contracts traded.
- National turnover was 1.5 billion securities worth $3.6 billion.