The New Zealand sharemarket fell 21 points to close at 3311 on Friday on turnover of $18 million.
The Australian 200 index eased 39 points to 4690.
In currency markets the dollar is trading at 77.50 US cents, 78.14 Australian, 48.18 pence, 64.79 Yen, and 0.5589 euro. The Trade Weighted Index stands at 69.13.
Fletcher Building was unchanged at $8.03, and Telecom was also static, at $2.16, after announcing a joint bid with rival Vodafone to roll out the government's rural broadband project.
Contact Energy rose 1 cent to $6.00; Air New Zealand was unchanged at $1.38, and Auckland International Airport was level at $2.12.
Fisher and Paykel Healthcare fell 3 cents to $3.05.
Sky City Entertainment Group was down 1c at $3.20, and Sky Network Television dropped 1c to $5.52.
The Warehouse was down 6c to $3.82, after first quarter sales fell 0.2%on this time last year.
