NZ dollar pares gains from growth figures as Asian equities weaken

Sun, 01 Jan 2012

By Paul McBeth Sept. 20 (BusinessDesk) - The New Zealand dollar pared gains as weaker equity markets across Asia took the sheen off stronger than expected local second quarter economic growth. The kiwi fell to 82.48 US cents at 5pm in Wellington from 82.76 cents at 8am and 82.82 cents yesterday. The trade-weighted index declined to 73.21 from 73.53 yesterday. Stocks across Asia fell after Chinese manufacturing figures confirmed the world's second-biggest economy is slowing industrial production. China's Shanghai Composite fell 1.1 percent...

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