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Australia: Shares drops to one-month lows, RBA eyed


[SYDNEY] Australian shares dropped to its lowest in a month on Monday, with banks leading losses as investors awaited the next day's Reserve Bank of Australia decision on whether to hold its policy interest rate unchanged or opt for a reduction.

The S&P/ASX 200 index skidded 1.4 per cent or 73.63 points to 5,165.8 at the close of trade. It was the biggest daily fall since late September.

New Zealand's benchmark NZX 50 index barely moved on Monday as the market continued to consolidate after touching an all-time high of 6,014.48 points last week. It closed at 5,983.84, down 2.5 points. The index had a 12-day rally which ended last week.