Australia: Shares tumble to 1-month low as weak commodities, Fed weigh

[SYDNEY] Australian shares slumped to a one-month low on Monday, falling the most since Oct 2 as investors fretted about tumbling commodity prices and the risk of a US rate hike in December.

The S&P/ASX 200 index skidded 1.8 per cent, or 95.5 points, to 5,119.5 at the close of trade. It rose 0.4 per cent on Friday.

The market has fallen in seven out of the last 10 sessions, led by a rout in banking stocks on concerns of slowing profit growth. It is down 5 per cent so far this year.

New Zealand's benchmark NZX 50 index dipped 0.4 per cent or 21.9 points to finish the session at 6,047.9.

REUTERS