By MarketWatch TOKYO (MarketWatch) -- Australian shares were lower in early trading Friday, taking their lead from weakness on Wall Street ahead of a key U.S. employment report, with decliners including financial issues. The benchmark S&P/ASX 200 index was down 0.3% at 4552.70. Weak data also weighed on market sentiment. The Australian Industry Group/Housing Industry Association Performance of Construction Index reportedly slipped 3.1 points to a reading of 43.3 in July, well below the 50 point mark separating contraction from expansion. Financial shares slipped ahead of the Reserve Bank of Australia's quarterly monetary policy statement due out later in the session, with shares of National Australia Bank Ltd. (AU:NAB 24.95, -0.24, -0.95%) (NAUBF 22.55, +0.26, +1.18%) down 0.6% and Westpac Banking Corp. (AU:WBC 23.57, -0.28, -1.17%) (WEBNF 21.50, -0.25, -1.15%) down 0.8%. But shares of Rio Tinto Ltd. (AU:RIO 73.26, +0.25, +0.34%) (RTP 54.85, +0.13, +0.24%) were up 0.1% after the global mining firm reported record first-half profits after the market closed Thursday on higher commodities prices. Also higher were shares of AWB Ltd. (AU:AWB 1.10, +0.04, +3.77%) (AWBZF 0.86, +0.01, +1.18%) , up 2.4%, after Russia said it would halt wheat exports, sending prices soaring.

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