* Australian shares close lower for fourth straight session
* New Zealand closes lower for third straight session (Updates to close)
March 5 (Reuters) - Australian shares ended lower on Mondayas concerns over heightened global trade tensions knockedinvestor sentiment, with mining and financial stocks leadingdeclines, while the prospect of a hung parliament in Italy alsohurt appetite.
The S&P/ASX 200 index .AXJO fell 0.57 percent, or 33.90points, to 5,895.0 at the close of trade, its lowest since Feb.14. The benchmark fell 0.7 percent on Friday.
Italy's election results have cast the euro zone'sthird-largest economy into a political gridlock, while fears ofa trade war sparked by proposed tariffs on steel and aluminiumimports in the U.S. rattled stock markets. MKTS/GLOB
In Australia, financials were the worst performing sector,with the sector index .AXFJ ending about 0.7 percent lower.The "big four" banks led declines.
Mining stocks .AXMM were the second biggest losers on theindex. Heavyweights BHP Billiton (LON:BLT) BHP.AX and Rio Tinto (LON:RIO) RIO.AX pulled down the Australian benchmark about 8 points, with BHPserving as the largest detractor to the ASX 200.
Rio Tinto fell after Australia's corporate watchdog onFriday launched court action against it and two formerexecutives for misleading investors about the coal reserves itreported in a $4 billion acquisition in Mozambique. operator Crown Resorts CWN.AX also ended lowerafter it said its Melbourne unit might have breached gamblingregulations when it conducted a trial of gaming machines lastyear. Food Group RFG.AX was the biggest percentage loseron the benchmark after its interim profit dived. The stock endedabout 28 percent lower. the other hand, retailer Myer Holdings MYR.AX ended 15percent higher after recording a record intraday gain. The stockwas the best performer on the benchmark.
New Zealand shares ended marginally lower, as fallingconsumer staples slightly offset gains in healthcare and realestate.
New Zealand's benchmark S&P/NZX 50 index .NZ50 fell 0.1percent or 8.59 points to finish the session at 8,279.83.
A2 Milk ATM.NZ ended about 1.4 percent lower and served asthe biggest drag on the benchmark, while Fisher & PaykelHealthcare FPH.NZ ended up 1.7 percent.