NZ shares fall as China growth slows

The declining Chinese economy weighed on the sharemarket today. (Image: Getty)

Fri, 15 Jul 2022

New Zealand's main share index dipped on Friday after data showed China's economy shrunk in the second quarter of the year, hampered by widespread covid lockdowns.The S&P/NZX 50 Index fell 65.36 points, or 0.6%, to 11,122.61. Turnover was $107 million.Covid lockdowns in China appear to have reversed its economic growth. Data released today showed the world’s second-largest economy contracted 2.6% from the previous quarter.SPI Asset Management’s Stephen Innes said it was “a big miss” relative to the 1.5% decli...

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