Australian shares fell to their lowest in two weeks, and logged their steepest weekly fall since early February, as a dip in oil and metal prices brought energy and material stocks lower. The S&P/ASX 200 index was 39.77 points, or 0.7 percent, lower at 5,836.6 at the close of trade, leading to a 1.5 percent loss for the week.

Energy stocks Woodside Petroleum and Oilsearch lost 2.7 percent and 1.8 percent, respectively, as oil prices fell on supply glut concerns. Miner BHP Billiton was down 2.7 percent, while gold stocks Newcrest Mining and St. Barbara fell 3.2 percent and 1.2 percent, respectively, as iron ore sank on demand worries and on over night losses in copper and gold. New Zealand's benchmark S&P/NZX 50 index reversed trend from earlier in the session to end 0.2 percent, or 12.92 points, lower at 7,365.5. Over the week, the index lost 0.2 percent.

Copyright Reuters, 2017