NZX50 slumps as ‘Sell America’ sentiment carries on in Asia
New Zealand’s S&P/NZX 50 index was one of the worst-performing stock markets across Asia with the slump on Wall Street extending into the local session as US President Donald Trump’s campaign to secure Greenland continues to unnerve investors.
The local bourse was a sea of red as 40 of the top 50 companies declined, including heavyweights Infratil, Auckland International Airport and Meridian Energy while Ebos Group came in for a third day of heavy trading as few sectors dodged the downturn.
A surging gold price hit new highs, helping locally listed junior miners avoid the worst of today’s decline, with Santana Minerals and Manuka Resources on the green side of the ledger.
Meanwhile, prime minister Christopher Luxon announced this year’s general election will be held on Nov 7, in what’s set to be a long campaign as political parties jostle for the Treasury benches of Parliament.
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