[Morningstar with AAP]: The Australian share market has fallen for a second day, with losses across the board as hopes dimmed for fourth cash rate cut.

The benchmark S&P/ASX200 index finished Friday down 35 points, or 0.52 per cent, to 6,649.7 points, while the broader All Ordinaries was down 33.1 points, or 0.49 per cent, to 6,758.4 points.

Chances for a fourth rate in November were already seen as unlikely following a surprise dip in the unemployment rate announced on Thursday, and further lessened after Reserve Bank Governor Philip Lowe said at an International Monetary Fund event in Washington Friday morning not to assume further rate cuts.

Every sector was in the red with the consumer staples sector the worst hit, down 1.2 per cent.

Woolworths fell 1.2 per cent, Coles dropped 1.6 per cent and Treasury Wine Estate dipped 1.7 per cent.

The big banks were all lower, with ANZ dropping 0.7 per cent to $27.76, NAB down 0.4 per cent to $28.76, Westpac down 0.8 per cent to $28.84 and Commonwealth down 0.6 per cent to $79.64.

IOOF gained 3.6 per cent to $7.30 after the financial regulator said it wouldn't appeal a Federal Court ruling clearing the company and five of its directors and regulators of misconduct.

Buy now pay later companies were under pressure after the Reserve Bank of Australia said it would consider whether merchants should be allowed to pass along to customers the cost of using such services, which until now have been borne by the merchants.

Afterpay Touch dropped 7.3 per cent to a two-month low of $29.65, Zip Co fell 6.3 per cent to $4.35, Flexigroup dropped 3.4 per cent to $2 and Splitit dropped 3.3 per cent to 88 cents.

Logistics software company Wisetech Global responded to a report by a US short-selling group, J Research, saying it rejected "entirely" the claims of financial impropriety and called for an investigation by Australian regulators of overseas short-sellers targeting ASX companies.

Wisetech shares remained in a trading halt but were expected to resume trade on Monday.

In the mining sector, BHP dipped 0.2 per cent to $34.79 but Rio Tinto rose 0.8 per cent to $87.87, and Fortescue Metals climbed 1.6 per cent to $8.29 amid signs the fall in iron ore futures was easing.

Goldminer St Barbara dipped 9.0 per cent to a two-year low of $2.53 after announced that gold production would be down for the year as it works to extend the life of its historic Gwalia mine in WA.

Seven West Media was up 1.3 per cent after it announced plans to merge with regional affiliate Prime Media in a $63.8 million all-scrip deal, with Prime shares flat.

Southern Cross Media, which was set to acquire Seven West Media's WA radio network Redwave, was up 2.3 per cent.

Car-sharing platform Collaborate Corp rocketed up 55.6 per cent to 1.4 cents after announcing that Hyundai Motors was partnering with its car subscription service Carly.

For the week the market finished up 42.9 points, or 0.65 per cent.

The Aussie dollar is buying 68.32 US cents from 67.83 US cents on Thursday.

ON THE ASX:

The benchmark S&P/ASX200 index closed down 35 points, or 0.52 per cent, to 6,649.7 points

The All Ordinaries closed down 33.1 points, or 0.49 per cent, to 6,758.4 points.

At 1715 AEDT, the SPI200 futures index was down two points, or 0.03 per cent, to 6,614.

The NZX 50 lost 74.74 points (-0.67%) to 11,067.12 while the Nikkei gained 40.82 points (0.18%) at the time of writing, to be closed at 22,492.67.

Companies Holding Annual General Meeting (ASX 300):

Event Hospitality and Entertainment Ltd

SkyCity Entertainment Group Limited