NZ stocks slump in line with global markets

(Image: Getty)

Mon, 20 Mar 2023

New Zealand joined other Asia Pacific markets with a sharp fall of nearly 1.5%, as the latest banking developments and support failed to calm investors’ nerves. The S&P/NZX 50 Index slipped gradually throughout the day and closed at 11,564.75, down 160.86 points or 1.37% – its biggest single-day fall in a month. The index is now only 0.8% for the year. There were 105 decliners and just 28 gainers over the whole market on light trading of 28.9 million share transactions worth $97.67m. David McConnochie, an investme...

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