Coronavirus weighing on exporters; NZ shares fall
The S&P/NZX 50 Index declined 38.67 points, or 0.3 percent, to 11,511.49. Within the index, 25 stocks fell, 19 rose and six were unchanged. Turnover was $158.9 million.
Asian markets fared better today, recouping a fraction of yesterday’s plunge in Chinese equities after the reopening of markets on China’s mainland.
The Shanghai Composite Index was up 0.2 percent in afternoon trading, although still down roughly 7 percent from before the lunar holiday. The Hang Seng rose 1.2 percent and the S&P/ASX 200 Index rose 0.3 percent.
Overnight, European and US investors were cheered by better manufacturing data, although the coronavirus remained front of mind. Wall Street's S&P 500 Index rose 0.9 percent, potentially sparking Asia’s recovery.
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