The local share market has finished lower with widespread losses across the financial, health care and retail sectors and a sharp sell-off in energy stocks.

The Australian share market has finished Friday higher ahead of the release of key US economic figures, the non-farm payrolls data.

The share market lost ground as investors dumped resource and energy stocks, including Rio Tinto, BHP Billiton and Woodside Petroleum.

The share market regained most of its early falls thanks to stronger-than-expected Chinese data, ending the day almost unchanged.

The Australian share market is modestly higher as markets expect US President Donald Trump is getting closer to considering the issue of tax reform.

Australian shares have closed higher, led by Rio Tinto, BHP Billiton and Woolworths as investors await RBA rates commentary and international economic data.