NZ shares fall to 5-week low as trade tensions spook investors; A2 drops

The S&P/NZX 50 index declined 107.3 points, or 1.2 percent, to 8,660.02, the lowest close since Oct. 30. Within the index, 38 stocks fell, nine gained and three were unchanged. Turnover was quieter than usual at $78.7 million.

Wall Street lost ground on Friday and Asian markets followed suit on concerns that Canada's arrest of Huawei global chief financial officer Meng Wanzhou could derail the temporary truce between the US and China. US authorities are seeking her extradition over claims she was involved in violating US sanctions against Iran. China on Sunday demanded the United States should withdraw the arrest warrant. The flare-up in tensions come just as the two nations kick off 90 days of negotiations.

The S&P 500 Index fell 2.3 percent on Friday, while across Asia today, Australia's S&P/ASX 200 was down 2.2 percent in afternoon trading and Hong Kong's Hang Seng declined 1.4 percent.

Hamilton Hindin Greene director Grant Williamson said while the New Zealand market was down it was outperforming Australia.