NZ shares snap 7-day rally

Wed, 08 Sep 2021

New Zealand shares snapped a seven-day rally, which saw the benchmark index up 2%, as two heavyweight stocks dragged the market lower.The S&P/NZX 50 Index fell 131 points, or 1%, to 13,193.01. Turnover was $197 million.Without much rhyme or reason, global equity markets were weaker overnight, prompting NZ investors to hit pause on a remarkable rally that pushed the NZX 50 up 4.8% in August. Harbour Asset Management said in a note that the delta variant had failed to dampen equity markets. “This result was mainly driven by a...

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