MARKET CLOSE NZ shares drop, joining Asian market slide, led by Kathmandu, Xero, Fletcher

Fri, 24 Jan 2014

By Suze Metherell Jan. 24 (BusinessDesk) – New Zealand shares fell as Asian markets declined for a second day amidst on going concern about a weakening Chinese economy and instability in emerging markets. Kathmandu Holdings, Xero and Fletcher Building paced the decline. The NZX 50 Index dropped 37.378 points, or about 0.8 percent to 4873.698. Within the index 27 stock fell, 13 rose and 10 remain unchanged. Turnover was $115.6 million. Across the region markets retreated after Argentina devalued its currency overnight and Turkey’s central ba...

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