Australia shares skid to over 5-month low on trade war anxiety; NZ down

* Aussie shares end at over 5-month low

* Materials, financials lead losses on ASX

* NZ falls 1 pct(Updates to close)

March 26 (Reuters) - Australian shares closed at more thanfive-month low on Monday, after U.S. stocks tumbled amidlingering fears a potential U.S. trade war with China could hurtglobal growth and corporate earnings.

The S&P/ASX 200 index fell 0.5 percent, or 30.2points, to 5,790.5, its lowest close since Oct. 11, though themarket had recovered a little from intraday losses as U.S. stockfutures pushed higher after a searing sell-off the previousweek.

The Australian benchmark skidded about 2 percent on Friday,and Wall Street also nosedived on that day with more than 1,000points knocked off the Dow in two days as investors soughtshelter from further losses.

Taking their cue from U.S. financials, Australia'sfinancials index slumped to its lowest close sinceNovember 2016, down 0.8 percent.

Banks, which accounted for most of the losses on thebenchmark, have also been under pressure from a government-backed Royal Commission enquiry into misconduct by financialinstitutions.

The 'Big Four' banks lost between 0.7 percent and 1.1percent.

Material and consumer staple stocks also contributed tolosses on the index.

The metals and mining index edged down 0.4 percent ona slide in base metal and oil prices.

Chinese steel futures fell for a third straight session onMonday to their lowest in more than eight months, while oilprices reversed earlier gains, as concerns of a looming tradedispute between the United States and China weighed on globalmarkets.

Index heavyweights BHP Billiton and Rio Tintoslipped 0.6 percent and 0.2 percent, respectively.

New Zealand's benchmark S&P/NZX 50 index fell nearly1 percent, or 82.95 points, to 8,432.41, a two-week closing low.

Consumer staples, telcoms and healthcare stocks led thelosses on the index.

Spark New Zealand Ltd was the biggest drag, losingover 3 percent.(Reporting by Christina Martin in BengaluruEditing by Shri Navaratnam)