Investors grow wary; market falls for second consecutive day
The S&P/NZX 50 Index fell 56.51 points, or 0.52 percent, to 10,731.55. Within the index, 16 stocks rose, 25 fell and nine were unchanged. Turnover was $126.1 million.
The benchmark opened stronger building on momentum from Wall Street’s overnight gains but fell away around midday when the Australian market weakened.
The S&P 500 and Dow Jones indices both closed more than 1.5 percent higher. At 5:30pm in Wellington, Australia’s S&P/ASX 200 had recovered earlier lost ground and was up about 0.1 percent.
Grant Williamson, director at Hamilton Hindin Greene, said there was little buying support in the market, which trended down as the day went on.
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