MARKET CLOSE: NZ shares fall on China jitters, Xero, Pacific Edge decline

Tue, 28 Jul 2015

By Suze Metherell July 28 (BusinessDesk) - New Zealand shares fell in a broad based sell off, as China's stock market volatility spooked investors. Pacific Edge, Xero and Heartland New Zealand all declined. The S&P/NZX 50 Index fell 23.68 points, or 0.4 percent, to 5848.38, recovering from an intraday drop to as low as 5838.5. Within the index, 37 stocks fell, eight rose and five were unchanged. Turnover was $108 million. Investors sold local equities after the Chicago Options Board Exchange's Volatility Index, known as Wall Street's...

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