NZ shares drop as fears over China envelop global markets

Thu, 07 Jan 2016

By Paul McBeth Jan. 8 (BusinessDesk) - New Zealand shares fell for a fourth day as fears over China's economy continue to cloud global markets, sapping investor appetite for riskier assets such as equities. The S&P/NZX 50 index dropped 1.4 percent to 6125.73 at midday in Wellington, extending its decline this week to 3.1 percent. The local market continued its downward run after yesterday's suspension of trading on Chinese stock markets led to another drop on Wall Street. Fears about the strength of China's economy hit the local market i...

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