MARKET CLOSE: NZ shares fall in face of Asia weakness; Fletcher, Telecom drop

Fri, 13 Jul 2012

By Hannah Lynch July 13 (BusinessDesk) - New Zealand shares fell, paced by the biggest companies on the bourse, Telecom and Fletcher Building after figures showed China's economy slowed as expected while Singapore’s contracted. The NZX 50 Index fell 5.9 points, or 0.2 percent, to 3495.40. Within the index, 17 stocks fell, 25 rose and 8 were unchanged. Turnover was $69.8 million. China’s gross domestic product expanded 7.6 percent in the three months ended June. 30 from a year earlier, the slowest pace since 2009, the National Bureau of Stat...

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