(Updates to close)
SYDNEY, March 24 (Reuters) - Australia's share market fell to its lowest in three weeks on Thursday, while its New Zealand counterpart retreated from yet another record high as investors turned defensive ahead of the long Easter weekend.
Australian and New Zealand financial markets will be shut Friday and Monday and reopen on Tuesday.
The S&P/ASX 200 index .AXJO ended 1.1 percent, or 58.066 points lower at 5082.200, the lowest since March 3.
New Zealand's benchmark S&P/NZX 50 index .NZ50 finished 0.095 percent or 6.320 points lower to finish the session at 6662.550.
Australia, banking stocks were a major drag on the index, led by a near 5 percent drop in Australia and New Zealand Banking Group shares ANZ.AX .
ANZ disappointed investors after it flagged bad debt charges of more than A$900 million ($674.28 million) for first-half 2016, A$100 million more than its previous guidance.
The bank said this was due to its exposure to pockets of weakness associated with low commodity prices in the resources sector and in related industries.
The warning cast a shadow over the wider banking sector. Commonwealth Bank CBA.AX , Westpac Banking Corp WBC.AX and National Australia Bank NAB.AX all suffered losses of between 2 percent and 4 percent. For more individual stocks activity click on STXBZ ($1 = 1.3348 Australian dollars) (Editing by Simon Cameron-Moore)