MARKET CLOSE: NZ shares join regional sell-off as traders mull global rates

Wed, 09 Jul 2014

By Paul McBeth July 9 (BusinessDesk) - New Zealand shares fell, joining a sell-off across Asia-Pacific, as investors mull the impact of global monetary policy on long-term bond yields and how that will feed into equity markets. The NZX 50 Index fell 43.332 points, or 0.8 percent, to 5122.743. Within the index, 26 stocks fell, 15 gained and nine were unchanged. Turnover was $116.9 million. Stocks across Asia fell, following Wall Street lower, as traders weigh up whether major central banks are moving towards raising interest rates, whic...

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