* Financials extend losses for fifth straight session
* NZ snaps six straight sessions of gains(Updates to close)
Feb 14 (Reuters) - Australian shares closed flat on Thursdayas gains in metals and energy stocks were offset by losses infinancials, with scandal-hit wealth manager AMP tumbling in yetanother reminder of the costly management missteps in thesector.
The S&P/ASX 200 index eased 0.07 or 4.2 points to6,059.4 at the close, having fallen 0.3 percent on Wednesday.
During the session, better than expected trade data reportedout of Australia's major export market China had little impacton trading, as investors were focused on high-level U.S.-Sinotariff talks.
Financial stocks were hit hard after AMP Ltdflagged further outflows from its flagship wealth managementunit, which has been under immense pressure after widespreadmisconduct was brought to light by the Royal Commission lastyear.
The shares of Australia's largest wealth manager dropped 7.8percent, while those of the big four banks also closed lower.
The company, which posted a 97 percent fall in its full yearstatutory profit, has lost more than half its marketcapitalisation in the past 12 months.
Shares of the country's biggest independent oil and gasproducer, Woodside Petroleum Ltd, rose 1.9 percent to anear four month high after it hiked its annual dividend by 47percent on the back of strong earning.
Higher oil prices pushed up other energy stocks with SantosLtd and Origin Energy Ltd rising 0.9 percentand 1 percent, respectively.
Mining stocks posted a one percent rise after theworld's largest miner BHP Group said its board had approved $696million in funding to expand production at the BP PLC-ledAtlantis oil project in the U.S. Gulf of Mexico.
Shares of BHP Group Ltd rose 1.6 percent to end attheir highest in more than 7-1/2 years while its rival Rio TintoLtd advanced 0.9 percent.
New Zealand's benchmark S&P/NZX 50 index dipped 0.5percent or 48.46 points, snapping six straight sessions ofgains, to finish the session at 9,284.92.
New Zealand listed shares of Westpac Banking Corpslid 0.6 percent, while A2 Milk Company Ltd shed 2.7percent.
A2 Milk appeared to lose further ground after China, itsbiggest market, reported a 1.5 percent drop in overall Januaryimports.
(Reporting by Shreya Mariam Job in BengaluruEditing by Shri Navaratnam)