MARKET CLOSE: NZ shares shed early gains on fears over US-China tensions

Thu, 28 May 2020

New Zealand shares reversed an earlier gain as Asian markets were sold off amid growing fears of a confrontation between the United States and China. The S&P/NZX 50 Index fell 192.50 points, or 1.7 percent, to 10,856.69. Within the index, 34 stocks fell, 13 rose, and three remained unchanged. Turnover was $206.9 million. Investor unease regarding geopolitical tension caused Asian markets to fall, cutting short an early rise on the local benchmark. The NZX50 was trading up 0.3 percent until midday when markets across Asia started to open w...

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