Australian PM Malcolm Turnbull urged to quit after cliff-hanger election

CANBERRA, Australia, July 4 (UPI) -- Australian opposite leader Bill Shorten is calling on Australian Prime Minister Malcolm Turnbull as the two are deadlocked after Saturday's national election.

"I think he should quit," the Labor Party leader said. "He's delivered instability."

Voting counting will resume Tuesday as a "hung Parliament" looms after neither candidate had secured the 76-seat number of Lower House seats needed to form a government.

According to the Australian Electoral Commission, the Liberal/National coalition has won 67 seats compared with 71 for the center-left Labor Party. Six seats have gone to independent/minor parties and six remain in doubt.

Absentee and early ballots, accounting for about 30 percent of the 15.5 million votes cast, still need to be counted.

Turnbull said he has "every confidence" his coalition can form a majority government.

But Shorten criticized Turnbull.

"Mr. Turnbull tried to capitalize on the Brexit vote and say because of what happened in England that you had to vote for him in Australia," Shorten said. He's Brexited himself. This guy's like the David Cameron of the southern hemisphere."

Turnbull urged caution.

"I can promise all Australians that we will dedicate our efforts to ensuring that the state of new Parliament is resolved without division or rancour," he said.

For the first time since the election, the Australian stock exchange was open Monday.

Australia's benchmark ASX 200 closed up 35.19 points, or 0.67 percent, at 5,281.80.

Shares in banks fell as investors reacted to the election uncertainty.

The Labor party has pledged to hold a Royal Commission inquiry into an alleged "toxic culture" in Australian banking.

Turnbull is a former Goldman Sachs banker and lawyer.

The Aussie dollar closed slightly up to $0.753