Market flat as property stocks fall on National policy

Investors wary of policy announcements send property stocks lower. (Image: Getty)

Wed, 30 Aug 2023

The New Zealand sharemarket was flat, and property stocks were weaker after the National party followed Labour and confirmed commercial building depreciation tax breaks would end next year.The S&P/NZX 50 Index had a choppy session when National announced its $14.6 billion tax plan and closed at 11,521.12, down 7 points or 0.06%. The index reached an intraday low of 11,473.4 points and had a late flurry.There were 69 gainers and 60 decliners over the whole market on volumes of 35.02 million shares transactions worth $128.18m. Summerset Group...

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