* Banks lead gains
* Energy stocks poised to lose nearly 4 pct this week
By Niyati Shetty
Nov 23 (Reuters) - Australian shares firmed in thin trade on Friday but were on track for a second week of losses as prospects of slackening global growth and Sino-U.S. trade tensions sapped investor sentiment.
The S&P/ASX 200 index .AXJO rose 0.4 percent or 20.2 points to 5,712.9 by 0115 GMT. The benchmark was set to lose 0.3 percent this week.
The World Trade Organisation said on Thursday that trade restrictions imposed by the G20 countries between mid-May and mid-October soared to cover $481 billion of trade, and warned that further escalation would increase global economic risks. are real concerns about the outlook for global growth, a lot of this centres around the trade disputes. The G20 meeting next Friday is potential for further headlines around the trade dispute between China and the U.S. and that pushed the markets around," said Michael McCarthy, chief market strategist at CMC Markets.
U.S. President Donald Trump and Chinese President Xi Jinping are expected to meet at the G20 summit in Argentina next week.
"Any signs of agreement or even an agreement to stop escalating the trade wars would be a positive to the markets but if it becomes apparent that the disputes are on-going and potentially worsening we could see markets react negatively," McCarthy added.
Volumes were light with U.S. equity markets closed for Thanksgiving.
"Not a great deal of commitment in trading this morning," McCarthy said.
Financial stocks .AXFJ rose 0.8 percent and were on track for a weekly gain. Australia and New Zealand Banking Group ANZ.AX was 1.6 percent higher and National Australia Bank NAB.AX advanced 0.8 percent.
Energy shares .AXEJ reversed course to gain 0.4 percent but were in line to lose nearly 4 percent this week. Oil & gas explorer Woodside Petroleum Ltd WPL.AX advanced 1 percent while Oil Search OSH.AX gained 1.5 percent.
However, the sub-index of metals and mining shares .AXMM fell 0.5 percent and was poised for a second week of heavy declines. Sector heavyweights BHP Group BHP.AX and Rio Tinto (LON:RIO) RIO.AX lost around 0.8 percent each.
Automotive Holdings Group Ltd AHG.AX plunged nearly 10 percent after it said it expected operating profit in fiscal 2019 to be weaker than its fiscal 2018 results. Zealand's benchmark S&P/NZX 50 index .NZ50 rose marginally to 8,713.18. The index was positioned to fall for a second straight week.
a2 Milk Company ATM.NZ gained 0.5 percent while Fisher & Paykel Healthcare Corporation FPH.NZ was 0.9 percent up.