Markets market close

Shares tumble as China tightens lockdown

Dan Brunskill
Mon, 09 May 2022

Shares tumble as China tightens lockdown
Mainfreight was down 4.1% at $77 due to concerns about China. (Image: Supplied)
Dan Brunskill
Mon, 09 May 2022
New Zealand's share market had another sharp fall on Monday as investors worried the escalating lockdown in China could prompt a recession in the key export market.The S&P/NZX 50 Index fell 227 points, or almost 2%, to 11,381.70. Turnover was $153 million.It was the tightening covid restrictions in Shanghai and Beijing that sent Asian share markets sliding, according to many market watchers.Reuters reported Shanghai authorities were renewing their efforts to reduce movement in the city and would maintain the restrictions throughout May....

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