NZX50 slips as mood sours of tech

New Zealand’s S&P/NZX 50 index fell as a globally souring sentiment on tech stocks weighed on Infratil and local software firms Serko, Vista Group International and Gentrack, with Asian technology companies on edge ahead of earnings from Taiwan Semiconductor Manufacturing Co.

Ryman Healthcare was among those on the red side of the ledger after the retirement village operator said December quarter sales of occupation rights to its units were relatively flat, while retaining its outlook for the June financial year.

Dual-listed lender ANZ Group Holdings and Westpac Banking Corp recovered some of yesterday’s losses after Citigroup analysts raised their target prices in a mixed day for the Australian banks as investors upped up their exposure to the mining sector amid the elevated prices for precious metals.