NZ sharemarket dips on low volumes as Aust market moves up on inflation news

The Aust reserve bank held rates and equities investors cheered. (Image: Getty)

Tue, 01 Aug 2023

The New Zealand sharemarket retreated more than half a percent on light trading as the Reserve Bank of Australia kept its official cash rate unchanged for the second straight month.The S&P/NZX 50 Index fell at the opening and never recovered, giving up two-thirds of its gain the day before and closing at 11,980.41 – down 75.74 points or 0.63% after increasing 0.92% on Monday.There were 56 gainers and 77 decliners over the whole market, with 21.95 million shares worth $64.76m changing hands.The Australian Reserve Bank held its rate at...

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