SYDNEY/WELLINGTON, April 22 (Reuters) - Australian shares edged lower on Friday, mirroring softness across much of Asia after disappointing earnings from the likes of Microsoft (NASDAQ:MSFT) and Google (NASDAQ:GOOGL) parent-company Alphabet soured sentiment.
The S&P/ASX 200 index .AXJO was down about 0.2 percent, or 7.9 points, at 5,264.8 by midday, having earlier fallen as much as 0.9 percent. The benchmark, which rose the past three days, was still up more than 2 percent for the week.
Investors took profits on many mining firms that rallied hard recently on the back of higher iron ore prices. South32 S32.AX and Fortescue Metals FMG.AX lost between 2 percent to 4 percent, recoiling from multi-month peaks.
The major miners BHP Billiton (LON:BLT) BHP.AX and Rio Tinto (LON:RIO) RIO.AX eased, while the big banks were mostly firmer though Commonwealth Bank CBA.AX was flat.
New Zealand's benchmark S&P/NZX 50 index .NZ50 shed 0.5 percent, or 33.8 points, to 6,872.4, taking a breather after reaching record peaks in the past seven sessions. It was up 0.4 percent on the week.
Forsyth Barr Investment Advisor Dave Schaper said trading was likely to remain subdued for the rest of the session.
The biggest gainers included Contact Energy CEN.NZ and Kathmandu KMD.NZ , both up 1.2 percent.
In the other direction, Air New Zealand AIR.NZ shed 2.8 percent.
Australian and New Zealand stock markets will be shut on Monday for a holiday.
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