The Australian share market has slipped into the red despite opening higher, with investors cautious ahead of the release of key Chinese data.

Traders said investors were nervous, despite positive leads from Wall Street, ahead of Chinese gross domestic product (GDP) data, due at 1300 AEDT.

Frontline mining and energy shares remained under pressure on Monday.

Rio Tinto and BHP Billiton were both trading around one per cent lower after iron ore eased and most base metals prices fell.

Iron ore miner Fortescue Metals’ shares were down nearly five per cent.

Bank shares were mixed, with ANZ up 0.4 per cent, but Commonwealth bank and NAB trading lower. Westpac shares resumed trading after going into a halt last week while the bank raised capital. The shares were up 3.4 per cent.

Shares in Arrium were up more than seven per cent after the mining and materials group said improvements in supply and demand for iron ore has helped stabilise prices.

KEY FACTS

* At 1205 AEDT on Monday, the benchmark S&P/ASX200 index was down 3.9 points, or 0.07 per cent, at 5,264.3 points.

* The broader All Ordinaries index was down 4.6 points, or 0.09 per cent, at 5,299.1 points.

* The December share price index futures contract was down eight points at 5,244 points, with 9,463 contracts traded.

* National turnover was 786.79 million securities worth $1.37 billion.