NZ, Australian shares drop, Asia to follow as weak Chinese data saps risk appetite

Mon, 24 Aug 2015

By Joshua Riddiford Aug. 24 (BusinessDesk) - New Zealand shares suffered their biggest decline in almost four years and Australian shares dropped, heralding what's expected to be an Asia-wide selloff after weak Chinese manufacturing data added to concern about the world's second-largest economy and sapped risk appetite. The S&P/NZX 50 Index fell almost 2 percent, heading for the biggest daily decline since October 2011, and Australia's S&P/ASX 200 Index sank 2.2 percent, the first two markets in the Asia Pacific region to open following a...

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