Resources companies bore the brunt of the fall, tracking commodity prices lower.

Global miner BHP Billiton fell 2.18 percent to its lowest close in a month and Rio Tinto closed down 1.98 percent, though gold miner Newcrest Mining bucked the trend, to close up 0.9 percent on a higher gold price.

The benchmark S&P/ASX 200 index closed down 66.348 points at 4,075, according to the latest data. The index has fallen for three straight days, taking losses to 5.4 percent over the period. New Zealand's benchmark NZX 50 index fell 0.7 percent to 3,270.560.