Australian shares fell 0.6 per cent on Monday as investors booked profits across the board following a strong 5-day rally which led to the index's best weekly performance in four years. The S&P/ASX 200 index slipped 33.99 points to 5,245.7 by 0046 GMT. The benchmark rose 1.3 per cent on Friday and ended 4.5 per cent higher for the week. Banks and energy stocks were the hardest hit on Monday but analysts expect the sell-off to be limited with the index seen trading around 4,900-5,300 in the near term. New Zealand stocks put in a spirited performance with the benchmark S&P/NZX 50 climbing 0.8 per cent to 5,681.7, extending last week's 0.8 per cent gain. Among the top performers, A2 Milk Company rallied 5.1 per cent, communications services provider Spark rose 1.3 per cent, while retail store chain Kathmandu Holdings put on 3.4 per cent, according to Reuters.
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