NZ shares fall as new virus cases appear in China
The S&P/NZX 50 Index dropped 41.82 points, or 0.4 percent, to 10,864.12. Within the index, 32 stocks fell, 16 rose, and two were unchanged. Turnover was $198 million.
Sentiment across Asia took a hit after Beijing recorded a spate of new covid-19 cases in a major wholesale food market. Authorities have closed the centre and locked down nearby housing districts.
Weaker than expected retail and industrial production data in China, and the fear of a resurgence of the virus, caused Asian markets to fall.
The ASX 200 Index dropped 2 percent percent, Hong Kong’s Hang Seng was down 1.6 percent, Japan’s Topix fell 1.9 percent and Shanghai’s SSE Composite was down 0.5 percent.
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