* Tech stocks snap fourth weekly loss, up 6% for the week
* Treasury yields retreat, lifting U.S. tech stocks
Australian energy stocks mark worst week since April 23
May 21 (Reuters) - Australian shares on Friday flitted in
and out of negative territory, but turned positive to end the
week higher, with local tech stocks taking cues from an upbeat
Wall Street session on signs of a pick-up in U.S. job growth
The benchmark ASX 200 index closed 0.2% higher at
7030.3 points, and delivered a weekly gain of 0.23%.
"We saw a rise in the Nasdaq last night in the U.S. so
that's helping our market today," Henry Jennings, a senior
analyst at Marcustoday Financial Newsletter said.
Wall Street snapped three straight sessions of losses
overnight, helped by technology stocks, as the smallest weekly
jobless claims since the start of a pandemic-driven recession
"I wouldn't be surprised if we reverted the engines next
week and saw tech stocks under some pressure and everyone
rushing back to commodity stocks again," he added.
Kogan.com, down nearly 14%, was the worst performer
in the benchmark index after the online retailer posted downbeat
annual outlook, while EML Payments was the top gainer
with a nearly 16% climb.
EML was also top gainer in the tech index, which
Banking stocks were flat, although three of the "Big
Four" banks were trading in the black. Commonwealth Bank of
Australia, which lost about 0.5%, weighed in the index.
"I think there's a little bit of profit-taking in some of
the banks and (investors) taking some money off the table before
the weekend," Jennings said.
On the downside, the energy index lost 2% to hit its
lowest close in six months, as oil prices were set for their
biggest weekly loss since March.
Heavyweights Woodside Petroleum and Santos
lost 3.3% and 4.9%, respectively.
Weak iron ore prices prompted the Australian metals and
mining index to shed 1.1%, its lowest close since May 3.
The index shed about 2% for the week.
BHP Group, Rio Tinto, and Fortescue Metals
fell between 1% and 2%.
In New Zealand, the NZX 50 index inched 0.2% higher
to 12,459.61 points.
(Reporting by Yamini C S, Editing by Sherry Jacob-Phillips)