MARKET CLOSE: NZ shares fall on US-China relationship, rising covid numbers

Thu, 16 Jul 2020

New Zealand shares snapped a three-day rally, as investors grew concerned about deteriorating US-China relations and the economic cost of a resurgence of covid-19. The S&P/NZX 50 Index declined 105.46 points, or 0.9 percent, to 11,505.06. Within the index, 16 stocks fell, 24 rose, and 10 were unchanged. Turnover was $214.9 million. The benchmark started the day on a positive note but dropped when the Australian market opened at midday. Australian shares were weaker as surging covid-19 cases forced investors to consider the possibility of...

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