NZ shares fall for sixth day as virus fears escalate
The S&P/NZX 50 Index declined 157.73 points, or 1.4 percent, to 11,103.43. Within the index, 46 stocks fell, three gained, and just one remained unchanged. Turnover was $258.9 million.
Michael McCarthy, chief market strategist at CMC Markets, said coronavirus remained at the heart of investor’s fears.
“Developments in the outbreaks in various countries around the globe will likely be the driver of markets over the course of this week,” he said.
China’s official PMI numbers reporting record low production provided the first hard evidence of the slowdown in the world's second biggest economy, and helped drive today’s weakness, McCarthy said.
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