Aussie shares snap losing streak but end week lower

The muted advance was outshone by major rallies in other indices in Asia, the US and Europe, as investor excitement about chip and AI firms outweighed worries about renewed conflict in the Persian Gulf.

Local mining stocks rebounded after tumbling more than four per cent during the week, the bounce led by BHP, Rio Tinto and gold stocks on the back of stronger commodity prices.

The Australian dollar is buying 69.49 US cents, up from 69.39 US cents on Thursday as the greenback softened on improving risk sentiment.