MARKET CLOSE: NZ stocks fall in sea of red; Xero, Pacific Edge, A2 plunge

Mon, 24 Aug 2015

By Suze Metherell Aug. 24 (BusinessDesk) - New Zealand shares dropped the most in four years in a global sell off after weak Chinese manufacturing data added to concern about the world's second-largest economy and sapped risk appetite. Xero plunged to its lowest level in two years while a weak earnings result saw Chorus hammered. The S&P/NZX 50 Index declined 143.87 points, or 2.5 percent, to 5607.32, its lowest level since January. Within the index, every stock bar Spark New Zealand dropped. Turnover was above average at $190 million. ...

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