MARKET CLOSE: Coronavirus hits tourism stocks again

MARKET CLOSE: Coronavirus hits tourism stocks again
Dan Brunskill
New Zealand shares fell for a third day as investors attempted to price the risk posed by coronavirus. Tourism-related companies including Tourism Holdings and Air New Zealand led the market down. The S&P/NZX 50 Index declined 122.03 points, or 1 percent, to 11,685.11. Within the index, 35 stocks fell, 10 rose, and five were unchanged. Turnover was $117.8 million, with trading bouncing back as investors returned from holidays. Grant Davies, an investment adviser at Hamilton Hindin Greene, said the NZX was following a negative lead from gl...

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