Australian share prices closed down 3.5 percent on Monday to their lowest level in three months in response to falls on Wall Street and a retreat in base metal and commodity prices, dealers said.
The benchmark S&P/ASX 200 lost 228.2 points to end the day at 6,263.5, its lowest close since September 18, while the broader All Ordinaries shed 224.3 points or 3.4 percent to finish at 6,331.8.
Volume traded was two billion shares worth about 6.75 billion dollars (5.82 billion US). Decliners outnumbered gainers 1,209 to 219 with 285 shares closing unchanged. National Australia Bank shares dropped 95 cents or 2.5 percent to 37.50 dollars.
Australia & New Zealand Banking Group shed 65 cents or 2.4 percent to 26.95 dollars. Commonwealth Bank fell 74 cents or 1.2 percent to 60.00 dollars and Westpac was down 70 cents or 2.4 percent at 28.30 dollars.
Mining giant BHP Billiton dropped 1.68 dollars or 4.0 percent to 40.37 dollars after it suspended a share buyback program. Rio Tinto, which has rejected a BHP Billiton take-over deal, fell 5.39 dollars or 3.9 percent to 131.85 dollars after announcing plans to invest 991 million US dollars to boost output at a Queensland coal mine.
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