MARKET CLOSE: NZ shares fall as prospect of smaller US rate cut knocks yield stocks

MARKET CLOSE: NZ shares fall as prospect of smaller US rate cut knocks yield stocks
Paul McBeth
By Paul McBeth July 9 (BusinessDesk) - New Zealand shares fell, joining a decline across Asia, as expectations of a smaller interest rate cut by the US Federal Reserve reduced the attraction of stocks held for a reliable income. The S&P/NZX 50 Index dropped 67.87 points, or 0.6 percent, to 10,538.11. Within the index, 31 stocks fell, 10 rose and nine were unchanged. Turnover was $103.5 million. Stocks across Asia were weaker, with Australia's S&P/ASX Index down 0.2 percent in afternoon trading. Hong Kong's Hang Seng fell 0.7 percent an...

More Markets

Vector agrees to sell LPG assets for $150m
Markets

Vector agrees to sell LPG assets for $150m

The deal is subject to regulatory approvals and commercial conditions.

Rebecca Howard 26 Jul 2024
ASX: Australian shares slide to a two-week low as tech drags
Markets

ASX: Australian shares slide to a two-week low as tech drags

Every sector of the Australian share market has lost ground.

AAP 26 Jul 2024
NZ sharemarket down 0.38%
Markets Market close

NZ sharemarket down 0.38%

The S&P/NZX 50 Index closed at the day’s low of 12,349.47, down 46.79 points or 0.38%.

Graham Skellern 26 Jul 2024
The Warehouse’s plight in five charts
Retail Charts

The Warehouse’s plight in five charts

The private equity bid shows the company’s future is still anyone’s guess.

Gregor Thompson 26 Jul 2024