MARKET CLOSE: NZ shares fall for 7th day as US bond yields hold sway

Tue, 09 Oct 2018

By Paul McBeth Oct. 9 (BusinessDesk) - New Zealand shares fell for a seventh day. Rising US bond yields kept a lid on equity markets across Asia, weighing on growth-orientated stocks such as A2 Milk Co and Pushpay Holdings. The S&P/NZX 50 index dropped 77.12 points, or 0.8 percent, to 9,069.98. Within the index, 32 stocks fell, 13 gained, and five were unchanged. Turnover was $104.6 million. New Zealand's benchmark index has dropped 3 percent during the past seven sessions as rising US bond yields inject new volatility into financial...

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