NZX50 falls 2.8% this week as inflation rears its head

Fri, 14 May 2021

The benchmark S&P/NZX 50 Index fell 2.8% this week as investors fretted over whether inflation pressures in the US will drive up interest rates, while the announcement of the new KiwiSaver default providers attracted local attention.The NZX 50 declined 60.26 points, or 0.5%, to 12,367.86 today. Of the 186 listed stocks on the main board, 61 fell and 69 rose, with market turnover $124.2 million.The local market was one of the worst performers across Asia today as US inflation indicators raise the prospect of higher interest rates.Trading was...

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