(Updates to close)
SYDNEY, April 8 (Reuters) - Australian shares fell 0.53 percent on Friday. S&P/ASX 200 index .AXJO dropped 26.479 points to 4937.600 at the close of trade. The benchmark ended the week down 1.2 percent, its third week of losses.
New Zealand's benchmark S&P/NZX 50 index .NZ50 dropped 0.369 percent or 24.950 points to finish the session at 6730.280 (Editing by Sam Holmes)