MARKET CLOSE NZ market sold off after inflation drop

Fri, 18 Jan 2013

Jan 18 (BusinessDesk) – New Zealand shares were sold off across the board, following a strong run earlier in the week. December quarter inflation figures showed a fall in prices in the last three months of last year, indicating sustained economic weakness, while Chinese growth data was soft. The NZX50 Index fell 32.63 points, or 0.77 percent, to 4614.17. Within the index, five stocks rose, 38 fell, and seven were unchanged, in trading valued at $159.03 million. The biggest fall was in shares of childrens’ clothing manufacturer Pumpkin Patch,...

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