NZ sharemarket snaps winning streak

The Australian central bank's rate hike had little impact on shares. (Image: Getty)

Tue, 07 Nov 2023

The New Zealand sharemarket’s five-day winning streak has ended abruptly, driven in part by weaker banking stocks.The S&P/NZX50 index finished at 11,223.86, down 37.362 points or 0.33%.Turnover was a light $89.4 million, and there were 71 falls and 61 rises among the 186 stocks traded.The Reserve Bank of Australia’s (RBA) widely expected move to hike its official interest rate by 25 basis points to 4.35% had little impact on equity markets on either side of the Tasman, although the Aussie dollar dropped by a quarter of a US cent...

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