The Australian sharemarket closed lower on Friday, as losses in the banking sector overshadowed gains among mining stocks.
The S&P/ASX 200 Index fell 35.1 points or 0.4% to 8,294.1, closing out the week 0.5% higher.
Ten of the 11 ASX sectors traded lower, led by financials and consumer staples.
Major banking players retreated, with Westpac down 1.7% after Morgan Stanley downgraded the stock. Commonwealth Bank also declined 1.7%, NAB fell 1.1%, and Macquarie dropped 1.2%.
Mining stocks provided some relief, with Rio Tinto gaining 2.2%, BHP up 1%, and Fortescue Metals gaining 0.1%.
Corporate news highlighted further turmoil for Star Entertainment, whose shares plummeted 15.4%, compounding a one-third loss from the previous session. The casino operator faces potential voluntary administration if a lifeline deal is not secured.
Elsewhere, Mesoblast, currently in a trading halt, saw its shares drop 5.1% amid ongoing challenges.
On the bond markets, 10-year and 2-year yields moved 0.8% and 0.5% higher at 4.549% and 3.907%, respectively.