NZ sharemarket down 0.8%, ASX almost double that

International moves weighed on the local market. (Image: Getty)

Tue, 22 Oct 2024

The New Zealand sharemarket remained stoic as its counterpart across the Tasman plunged more than 1.5% from record highs on increasing bond yields.The S&P/NZX 50 Index fell sharply at the opening, then traded steadily till a late dip and closed at 12,813.15, down 110.07 points or 0.85% after reaching an intraday low of 12,800.6.Trading was heavy, with 57.63 million shares worth $262.49m changing hands.The US deficit Matt Goodson, managing director of Salt Funds Management, said the local market did quite well considering the fall in Austral...

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