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

Bathurst vs Talley's: battling on
Markets Part 3

Bathurst vs Talley's: battling on

Bathurst turned back to Asian investors to raise capital this year.

Kiwibank's $500m capital hike fails to inspire
Markets

Kiwibank's $500m capital hike fails to inspire

Capital raise plans designed to help the bank grab market share from its Aussie rivals.

NZX falls as Synlait and Mainfreight take hits
Markets Market Close

NZX falls as Synlait and Mainfreight take hits

Market reacts strongly to news of "challenges" at Synlait's Dunsandel plant.

Tom Raynel 30 Jul 2025
'Slow and disappointing' start to the year for Mainfreight
Markets

'Slow and disappointing' start to the year for Mainfreight

The freight and logistics firm said profits were down across its three main divisions.

Staff reporters 30 Jul 2025