Australian shares fall after PM re-election

Australian stocks dropped on Monday following the re-election of Prime Minister Anthony Albanese, as most Asian markets were closed for holidays.

The S&P/ASX 200 benchmark closed the day down 0.97 per cent at 8,157.80, reversing the sharp gains from the previous session when it reached its highest level since Feb. 27.

Taiwan’s Taiex index dropped 1.23 per cent in volatile trading to end at 20,532.99. In India, the Nifty 50 index rose by 0.44 per cent and the BSE Sensex gained 0.32 per cent.

Attribution: CNBC

Subediting: M. S. Salama