MARKET CLOSE: NZ shares join global decline; US tariff move weighs on exporters

By Paul McBeth | Tue, 03 Dec 2019


New Zealand shares joined a global sell-off as a revival in US trade protectionism added to pessimism among global investors. Local exporters were among the hardest hit as a stronger kiwi dollar combined with the souring sentiment. The S&P/NZX 50 Index dropped 73.71 points, or 0.7 percent, to 11,228.27. Within the index, 27 stocks fell, 16 rose, and seven were unchanged. Turnover was $173.3 million. Stocks across Asia fell, taking their cue from Wall Street where weaker US manufacturing data set a downbeat tone that was compounded by Pres...