NZ shares edge higher as Chinese virus fears weigh
The S&P/NZX 50 Index increased 11.43 points, or 0.1 percent, to 11,901.11. Within the index, 24 stocks rose, 16 fell, and 10 held steady. Turnover was $139 million.
Equity markets across Asia were mixed as investors await a decision from the World Health Organisation on whether the outbreak will be deemed an emergency. Australia’s S&P/ASX 200 Index was down 0.7 percent in afternoon trading.
Grant Williamson, director of Hamilton Hindin Greene, said the weak Australian market was likely an factor in New Zealand's lacklustre performance today.
“Obviously the market is very flat. Wall Street did very little overnight as well, although Australia is under a little bit of pressure, so we are certainly doing a little bit better than them today,” he said.
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