NZ shares fall as investors wait for economy to reopen
The S&P/NZX 50 Index declined 26.63 points, or 0.3 percent, to 10,419.48. Within the index, 33 stocks fell, nine rose, and eight were unchanged. Turnover was $187.6 million.
Investors took a more cautious approach to trading ahead of the long weekend, holding back to reassess once they get a clearer picture of the conditions under looser pandemic restrictions.
“Locally, there is bit of optimism moving forward into level 3 and possibly back to some sense of normality in a few weeks’ time,” said Greg Smith, head of research at Fat Prophets.
Investors had already priced in the lower alert level earlier in the week and were now looking to when more of the economy opens up.
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