MARKET CLOSE: NZ shares fall on China fears; Fonterra, Westpac, ANZ decline

Tue, 11 Aug 2015

By Suze Metherell Aug. 11 (BusinessDesk) - New Zealand shares fell in a broad sell off as worries about China's economic growth spooked investors. Fonterra Shareholders' Fund, Westpac Banking Corp and Australia and New Zealand Banking Group declined. The S&P/NZX 50 Index dropped 42.67 points, or 0.7 percent, to 5822.35. Within the index, 28 stocks fell, 11 rose and 11 were unchanged. Turnover was $154 million. Stocks in Australia and New Zealand declined after China's central bank devalued the yuan following recent poor economic data,...

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