The continued stalemate in the US political debate on its debt-ceiling further sapped investor sentiment.
The benchmark S&P/ASX 200 index was down 35.9 points, or 0.78 per cent, at 4537.4, while the broader All Ordinaries was down 33.7 points (0.73 per cent) at 4612.60.
Asian shares were mixed amid investor caution over continued squabbling in the US, while a surge in the Australian dollar weighed on the Sydney market.
Said Justin Gallagher, RBS head of domestic sales trading in Australia: "While markets have drifted lower, people do think that sanity will prevail in regard to the US debt ceiling. That said, there seems to be more concern each day that the US could do something completely stupid."
In a recent regional snapshot, Japan's Nikkei Stock Average fell 0.5 per cent, South Korea's Kospi Composite rose 0.2 per cent, China's Shanghai Composite Index was flat, Hong Kong's Hang Seng Index was down 0.1 per cent and India's Sensex was flat.
Dow Jones Industrial Average futures were up 23 points in screen trade.
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