NZ shares fall on US fears of new outbreaks
The S&P/NZX 50 Index slipped 30.64 points, or 0.3 percent, to 10,788.03. Within the index, 31 stocks fell and 19 rose. Turnover was $236.2 million.
Stock markets across Asia followed Wall Street lower after US infectious disease expert Anthony Fauci warned premature lifting of lockdowns could trigger new outbreaks of the deadly coronavirus, claiming more lives and further damaging economies, many of which have started to reopen.
New Zealand's benchmark index fell as much as 1.3 percent during the day, before regaining some ground as US futures began to turn upwards.
“Our market started off weaker, but we’ve actually picked up some momentum,” said Peter McIntyre, an investment adviser at Craigs Investment Partners.
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