MARKET CLOSE: NZ shares join global sell-off on Trump's trade tweets; Freightways caution weighs

Mon, 26 Aug 2019

By Paul McBeth Aug. 26 (BusinessDesk) - New Zealand shares joined a worldwide sell-off as US President Donald Trump spooked investors by ratcheting his trade war with China. That weighed on the local reporting season, which saw Freightways punished for its cautious outlook. The S&P/NZX 50 Index dropped 138.88 points, 1.3 percent, to 10,483.47. Within the index, 43 stocks fell, three rose, and four were unchanged. Turnover was $103 million, with just four stocks trading on volumes of more than a million shares. Stocks across the Asia...

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