MARKET CLOSE: NZ shares inch higher as US shutdown sidelines investors

Thu, 24 Jan 2019

By Rebecca Howard Jan. 24 (BusinessDesk) - New Zealand shares inched higher but trading was mixed on concerns that US economic growth will take a hit from the longest-ever government shutdown and as investors pared back expectations of a New Zealand rate cut. The S&P/NZX 50 index rose 2.88 points, or 0.03 percent, to 9108.91. Within the index, 19 stocks rose, 10 were unchanged and 21 fell. Turnover was $114 million. The partial government shutdown affecting 800,000 federal workers has lasted more than a month and investors are incre...

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