MARKET CLOSE: NZ shares follow Chinese market lower as investors eye Fed; Steel & Tube falls

Tue, 15 Sep 2015

By Paul McBeth Sept. 15 (BusinessDesk) - New Zealand shares followed Chinese stocks lower, with investors reluctant to take big positions ahead of the Federal Reserve's policy meeting this week. Steel & Tube Holdings fell and Kathmandu Holdings gained. The S&P/NZX 50 Index declined 14.78 points, or 0.3 percent, to 5652.39. Within the index, 21 stocks fell, 14 rose, and 15 were unchanged. Turnover was $113 million. The prospect of a slowing Chinese economy has prompted investors to pay more attention to the Shanghai Composite Index, whi...

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