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The Australian share market closed weaker today, taking its lead from Wall Street's 428-point plunge overnight as sellers targeted the major banks and leading miners. The ASX200 index fell 146.7 points to 3352.9 and is now 51 per cent below the record high of 6851.5 set just over 12 months ago, while the All Ordinaries index slid 150.6 points to 3332.6.

In futures the December SPI200 contract fell 146 points to 3398. Trading was busy with turnover of $4.9 billion, comprising 206 rises, 872 falls and 303 steadies.

BHP Billiton was the day's busiest stock by value with trading worth $599 million and retreated $2.10 to $21.10. Rio Tinto slumped $8.65 to $57.25 and OZ Minerals plunged 10.5c to 52.5c but Alumina recouped a 7c fall to end 1c firmer at $1.06.

Among the banks ANZ tumbled 82c to $13, Commonwealth lost $1.62 to $29.31, National gave back 86c to $18.82 and Westpac slid 65c to $15.60.However, Suncorp-Metway gained 25c to $7.15, Macquarie Group climbed $1.84 to $27 and QBE improved 46c to $22.80, ending a three-day run of losses totalling $3.61.

In the energy sector Woodside Petroleum retreated $3.28 to $30.65, Santos dropped 42c to $12.40 and Caltex slid 35c to $7.70.

Among the goldminers Lihir fell 6.5c to $1.625 and Newmont gave back 13c to $3.47 while Newcrest was steady at $18.95.

Nexus Energy Ltd., developer of the proposed Crux natural gas liquids project off northern Australia, said it may consider a sale of the company or an alliance,rather than offering a stake in the venture. A process Nexus started last month to seek buyers for a stake in the Crux venture drew interest in a wider transaction, Michael Fowler, chairman of the company, said.

ComfortDelGro Corp., operator of the world's second-largest bus and taxi fleet, will buy a bus company in Australia for $149.2 million as the Singapore company reduces its dependence on the home market. ComfortDelGro's Australian unit will purchase Kefford Group, the fourth-largest bus operator in Victoria state, the company said. The purchase, subject to regulatory approvals, will add 328 buses and a 16 percent market share in the state.

New Zealand's NZX 50 fell 61.6 points to 2644.7 while Tokyo's Nikkei declined 491 points to 7782 with about 30 minutes of trading left. Hong Kong's Hang Seng had fallen 29 points to 12,887 by the mid-session interval.

Gold traded at $US736.80 an ounce and the Australian dollar is changing hands at US63.41c. Ten-year bond yields fell nine points to 4.75 per cent.

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