Australian shares fell 2.22 per cent on Monday as investors were worried about the prospect of a Greek debt default.

The S&P/ASX 200 index lost 123.38 points to close at 5,422.500. The benchmark had slipped 1.5 per cent on Friday.

New Zealand’s benchmark NZX 50 index dropped 0.86 per cent or 49.63 points to finish the session at 5,705.810.

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