Calvin Peete shot a five-under-par 67 for a five-stroke lead after the third round of the $409,000 Dunlop Phoenix tournament in Miyazaki, Japan.

Peete, who won four PGA tournaments this past season, had six birdies over the 7,030-yard course yesterday for a 54-hole total of 209. Bobby Wadkins and Larry Nelson were tied for second place with Hsieh Min-nan at 214 . . .

In Sydney, Bob Shearer shot par 72 for a three-round total of 217 and a two-stroke lead in the Australian Open. Jack Nicklaus, with putting problems, shot a 74 that left him in a tie with Payne Stewart and Wayne Grady at 219 . . .

Gary Marlowe of Rockville, Md., shot 75 for a five-round sum of 377 heading into today's final round of the PGA Tour Qualifying Tournament at the Tournament Players Club in Ponte Vedra, Fla.

Donnie Hammond of Longwood, Fla., leads with 74 -- 344, followed by Nick Price of South Africa, 74 -- 359. Marlowe is presently among the low 100 scorers in the 120-player field. The top 50 golfers will gain PGA Tour cards; 51st- to 100th-place finishers will gain the new 10-tournament Tournament Players Series.