NZ shares fall as tight rate outlook sharpens focus on GDP

Economic fears and high interest rates weigh on the sharemarket. (Image: Deposit Photos)

Wed, 19 Jun 2024

New Zealand shares fell as investors ponder the nation’s tight monetary policy ahead of economic data poised to show whether or not the country’s out of recession.The S&P/NZX 50 index dropped 96.21 points, or 0.8%, to 11,671.19. Across the main board, 84 stocks fell, 47 rose and 53 were unchanged. Turnover was $225.6 million, of which Channel Infrastructure and Infratil accounted for $88.4m.Companies typically held for their reliable dividends remained under pressure as investors absorbed the hawkish view of the Reserve Bank of...

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