NZ shares slow down as traffic light turns red

Mon, 24 Jan 2022

New Zealand shares kicked off the week on the back foot after Sunday night's decision to shift the entire country to the red light covid setting, which weighed on companies most exposed to the covid-19 pandemic.The S&P/NZX 50 Index dropped 105.51 points, or 0.9%, to 12,242.49 at 3pm, having slumped as much as 1.8% before Australian markets opened at midday NZ time.Like other stock markets around the world, the NZX has drifted from last year’s highs as investors grapple with the prospect of rising global interest rates, which reduc...

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