NZ sharemarket falls 1% to near-low for year

NZ sharemarket falls 1% to near-low for year
There were 98 decliners and 37 decliners over the whole market. (Image: Getty)
Graham Skellern
The New Zealand sharemarket tumbled 1% to a near-low for the year, triggered by a sell-off in leading stocks and not the tax-friendly Budget.The S&P/NZX 50 Index was already in a steep decline when the government announced income tax cuts worth $14.72 billion for the first time in 14 years and returning to an operating surplus in 2017-18. The index closed at 11,557.21, down 121.46 points or 1.04%. It was only the second time the index had gone under 11,600 points this year, on May 15, when it ended at 11,525.88.There were 98 decliners...

More Markets

NZ sharemarket down 0.5% amid PGW shuffle
Markets Market Close

NZ sharemarket down 0.5% amid PGW shuffle

The S&P/NZX 50 Index closed at 13,276.99, down 74.93 points or 0.56%.

Graham Skellern 14 Oct 2025
PGG Wrightson chair and deputy ousted
Primary Sector

PGG Wrightson chair and deputy ousted

The company's annual meeting was in Christchurch on Tuesday.

Riley Kennedy 14 Oct 2025
Tower's risk-based revolution
Markets

Tower's risk-based revolution

It's one of the few insurers in Australasia growing. How?

RBNZ plan to cut AT1 capital layer wins cautious lender support
Finance

RBNZ plan to cut AT1 capital layer wins cautious lender support

Proposal to pare AT1 capital from prudential stacks wins cautious support from lenders.

Andy Macdonald 14 Oct 2025