(Corrects 12th paragraph to say New Zealand's S&P/NZX 50 index closed 0.01% lower, not 0.3% higher)
By Devika Syamnath
Aug 9 (Reuters) - Australian shares ended higher on Friday, helped by small miners and big banks, but marked its worst week in nearly nine months after global risk appetite was spoilt by escalating trade tensions that threatened to spill into currency markets.
The S&P/ASX 200 index .AXJO ended 0.3% higher, at 6,584.4. For the week, it fell 2.7%, the biggest weekly loss since mid-November.
Australia's biggest trade partner China let the yuan weaken past 7 to the dollar on Monday after U.S. President Donald Trump said he plans to slap additional tariffs on Chinese goods on Sept 1. Friday, fibre cement maker James Hardie Industries JHX.AX and wealth manager AMP AMP.AX were the top gainers on the Australian benchmark.
James Hardie rocketed 14.1% after saying it expected better earnings in fiscal 2020, citing an improved outlook for the U.S. housing market. rose on a turnaround plan unveiled on Thursday to "reinvent" the business. nickel miners rose as concerns over a possible export ban by Indonesia on the metal jacked up prices. Independence Group IGO.AX and Western Areas WSA.AX both tacked on more than 5%. MET/L
Lithium miners Orocobre ORE.AX and Pilbara Minerals PLS.AX added 10.3% and 6.5%, respectively.
Oil and gas companies Santos STO.AX and Oil Search OSH.AX also advanced 1.7% and 0.7%, respectively, while blue-chip lenders Commonwealth Bank of Australia CBA.AX and Westpac Banking WBC.AX added 0.6% and 0.5%, respectively.
Real estate classifieds firm REA Group REA.AX erased earlier losses to surge 5.6%, as investors corrected for a "knee-jerk" reaction to a 58% drop in annual profit, that was largely impacted by a hefty impairment charge. McGlew, executive director of corporate stockbroking at Argonaut, said the results did not include effects of the latest rate cut from the Australian central bank, "the biggest single driver for recovery" for the housing market.
New Zealand's benchmark S&P/NZX 50 index .NZ50 slipped 1.09 points, or 0.01% at end to 10,873.21.
Specialist outdoor retailer Kathmandu Holdings KMD.NZ was the top gainer on the benchmark, rising nearly 3% to its highest close since March.