Australian share prices slumped 1.37 percent on Monday as investors sold resource stocks following sharp falls in commodity markets on Friday dealers said. The benchmark S and P/ASX 200 index fell 70.1 points to 5,030.8 and the broader All Ordinaries Index lost 73.9 points or 1.46 percent to 4,987.3.
Turnover was 1.28 billion shares worth 4.44 billion dollars (3.36 billion US), with falls leading gains 960 to 253 with 266 stocks unchanged.
BHP Billiton fell 0.85 dollars or 2.96 percent to finish at 27.89 dollars while Rio Tinto lost 3.08 dollars or 3.39 percent to close at 75.22 dollars.
Among other resources stocks, Zinifex plunged 1.61 or 14.89 percent to 9.20, Kagara Zinc shed 0.55 or 15.36 percent to 3.03 and Alumina fell 0.35 to 6.87.
Among the major banks, National Australia Bank dropped 0.15 to 35.90, Commonwealth Bank shed 0.14 to 44.85, ANZ slipped 0.11 to 26.10 and Westpac was down 0.16 at 23.34.