MARKET CLOSE: NZ shares fall, capping 3.7% weekly decline, as rising bond yields crimp equity gains

Fri, 09 Feb 2018

By Paul McBeth Feb. 9 (BusinessDesk) - New Zealand shares fell, rounding out a 3.7 percent weekly decline as investors adjust to increased volatility and rising global bond yields that are undermining equity markets that have been at record highs. SkyCity Entertainment Group gained after kicking off earnings season and Scales Corp fell. The S&P/NZX 50 index dropped 84.77 points, or 1 percent, to 8,092.37. Within the index, 40 stocks declined, seven gained, and three were unchanged. Turnover was $143 million. Stocks across Asia followe...

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