MARKET CLOSE: NZ shares fall as rising yields trim demand; Synlait drops

Fri, 05 Oct 2018

By Paul McBeth Oct. 5 (BusinessDesk) - New Zealand shares fell for a sixth session as rising US bond yields dented investors' appetite for stocks. Synlait Milk led the market lower, dropping to a five-month low. The S&P/NZX 50 index declined 42.31 points, or 0.5 percent, to 9,214.87. Within the index, 30 stocks fell, 13 gained and seven were unchanged. Turnover was a quieter than usual $79.1 million. Stocks across Asia were largely weaker, following Wall Street's lead, after the yield on US 10-year Treasuries rose to a seven-year hig...

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