Australia shares close lower as blue-chip stocks drag

SYDNEY: Australian shares fell 0.3 percent on Monday, pulled down by blue-chip stocks in a broad sell-off after a bullish October, though sentiment was buoyed by Wall Street hitting new highs and a surge in takeover target Warrnambool Cheese.

The S&P/ASX 200 index fell 17 points to finish at 5,384.7. The benchmark gained nearly 1 percent on Friday after dovish comments by US Federal Reserve Chair nominee Janet Yellen.

New Zealand's benchmark NZX 50 index slipped 0.4 percent or 22 points to finish the session at 4,892.0.