Nov 18 (Reuters) - Australian shares rose marginally on Friday, with banks leading the gains, even as hawkish comments from U.S. Federal Reserve officials and a persisting tight labour market raised fears of a prolonged monetary policy tightening.
The S&P/ASX 200 index was up 0.2% at 7,147.50 by 2358 GMT. The benchmark ended 0.2% higher on Thursday. It was, however, set to end the week 0.2% lower, snapping a three-week gaining streak.
Hawkish comments from Fed officials to continue raising rates by at least another full percentage point as data indicates tightness in the labour market cast a shadow on hopes of a pivot in Fed's aggressive stance.
Data also showed Australia's net employment rose better-than-expected in October, raising speculation that the Reserve Bank of Australia might continue with rate hikes.
Miners were down 0.5%, even as iron ore prices inched higher on hopes that China will roll out more measures to support its economy.
Copper-gold miner OZ Minerals jumped 3.8% on receiving a hiked buyout offer of A$9.60 billion ($6.43 billion) from global miner BHP Group.
Also, Rio Tinto edged down after it said it will proceed with acquiring the remaining 49% in Turquoise Hill Resources for $3.3 billion.
Financials jumped 0.4% with the "Big Four" banks gaining between 0.1% and 1%.
Shares of Perpetual Ltd fell 20.7% this week, as an Australian court on Thursday said fund manager Pendal Group could enforce Perpetual to honour its A$2.34 billion takeover deal.
Local energy stocks gained 0.1% despite oil prices falling amid demand concerns over rising COVID-19 cases in China.
Santos gained 0.3%, while Woodside Energy fell 0.2%.
In New Zealand, the benchmark S&P/NZX 50 index rose 0.2% to 11,319.58.
Fonterra Co-operative Group jumped 0.8% after it said it was selling its dairy operations in Chile to Peru's Gloria Foods for $641.4 million. ($1 = 1.4939 Australian dollars) (Reporting by Echha Jain in Bengaluru; Editing by Rashmi Aich)
