NZ shares pare back losses after rocky open

Wed, 12 Aug 2020

New Zealand’s benchmark index saw its biggest fall since June 12, dropping 2.5 percent before recovering to 1.3 percent by about 1:30pm.This morning, every stock in the S&P/NZX 50 fell as Auckland went into a three-day lockdown at midday after four unexplained cases of covid-19 were discovered yesterday evening.Share prices recovered from early lows as investors digested the news. Grant Williamson, director of investment firm Hamilton Hindin Greene, said while the correction was significant, we were not seeing any panicked selling.&ld...

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