NZ shares snap 5-day rally

Wed, 17 Mar 2021

New Zealand's main share index snapped a five-day rally and fell with the kiwi dollar and bond yields, as investors wait on the US Federal Reserve meeting on Wednesday night.The S&P/NZX 50 Index fell 66.84 points, or 0.5%, to 12,622.21. Within the index, 24 stocks rose, 21 fell and five were unchanged. Turnover was $240.3 million.Jason Wong, an interest rate strategist at BNZ, said the Federal Reserve was expected to show the cash rate remaining on hold through to the end of 2023 but investors needed to be reassured. “Given t...

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