By Cecile Lefort and Rebecca Howard
SYDNEY/WELLINGTON, May 9 (Reuters) - Australian and New Zealand shares edged lower on Monday, after disappointing trade figures out of China revived concerns about global growth and dented sentiment for equities.
The S&P/ASX 200 index .AXJO fell 0.4 percent or 21.046 points to 5,271.0 by 0353 GMT, pulling away from a six-month high set last week.
"There is some divergence between weak economic numbers coming through and (recent strong) market performance," said Michael McCarthy, chief market strategist at CMC Markets, referring to recent U.S. jobs and China trade data.
He said a tumbling Australian dollar AUD=D4 , down 3 percent last week, did not help sentiment with international investors kept on the sidelines.
Stocks in the material sector were the hardest-hit with Orica ORI.AX skidding 11 percent to touch its lowest since late February.
The world's largest maker of mine explosives slashed its forecast sales volumes and halved its dividend to weather a prolonged mining slump after reporting a 10-percent fall in half-year profit. nickel and iron ore prices weighed on mining stocks with Rio Tinto (LON:RIO) RIO.AX off 2 percent and BHP Billiton (LON:BLT) BHP.AX down nearly 1 percent. Fortescue Metals FMG.AX also dropped 1.4 percent.
Financials were also on the skids after two of Australia's biggest banks, ANZ Bank and Westpac, said they were investigating suspected fraud from home loan borrowers who rely on foreign income. ANZ.AX , which traded ex-dividend, slipped 4 percent, while National Australia Bank NAB.AX and Westpac WBC.AX edged 0.1 percent lower. Commonwealth Bank of Australia CBA.AX managed to rise 0.7 per cent after it posted third-quarter cash profit of A$2.3 billion, on track for an annual record. market gloom was the energy sector, buoyed by rising oil prices. Whitehaven Coal WHC.AX jumped 7.5 percent and Santos STO.AX gained 3.1 percent.
New Zealand's benchmark S&P/NZX 50 index .NZ50 was down 0.1 percent or 7.75 points at 6,890.36.
The biggest gainer were Contact Energy CEN.NZ , trading up 1.9 percent.
In the other direction, Sky Network Television SKT.NZ continued to tumble, down 6.7 percent. The stock lost ground Friday when it said its subscriber numbers were expected to fall further this financial year.
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(Editing by Richard Borsuk)