A2 and Fisher & Paykel lead NZX down on China fears

The S&P/NZX 50 index decreased 39.27 points, or 0.4 percent, to 9,245.65. Within the index, 17 stocks fell, 16 rose, and 17 were unchanged. Turnover was $118.6 million, with just five companies trading on volumes of more than a million shares.

Stocks across Asia were weaker, with Hong Kong's Hang Seng down 1.6 percent in afternoon trading, Korea's Kospi 200 down 1.9 percent, and Singapore's Straits Times index down 0.4 percent. US Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin are in Beijing for high-level trade talks, but have reportedly not made any inroads into ending the stalemate.

A2 Milk led the market lower, down 3.8 percent at $12.79. About 2.1 million shares changed hands, almost twice its 90-day average of 1.1 million. F&P Healthcare fell 1.4 percent to $13.51 on slightly smaller volume than usual at 412,000.

"Stocks are falling back on the trade pessimism, which is coming to dominate," said Peter McIntyre, an investment adviser at Craigs Investment Partners. "It's been pretty subdued today."