The New Zealand sharemarket had its seventh successive fall as it continued to be battered by increased interest rates and a weak NZ dollar.

The New Zealand sharemarket hit a 16-month low with a fall of nearly 1% following further mixed messages on company earnings from the latest annual meetings.

The New Zealand share market ended lower as annual meeting confessions continued to disappoint.

The New Zealand sharemarket continued to lose ground as stocks were still boxed in by high interest rates and modest earnings expectations.

Transport hardware and software company Eroad led the local share market lower as rising bond yields continue to weigh on the outlook for technology stocks.

New Zealand stocks buckled under the weight of rising bond yields, taking the market to its lowest point for the year to date.

A worsening geopolitical situation and the continued march higher of bond yields drove New Zealand stocks lower across the board.

New Zealand’s benchmark index flattened out on Wednesday after a quiet day on the market in terms of news, which gave investors more time to chew over yesterday’s consumer price inflation (CPI) data that came in much lower than expected.

New Zealand’s benchmark index edged up after consumer price index (CPI) data came in lower than most economists and the country’s central bank forecast.

New Zealand’s benchmark index fell almost 1% on the first day of market trading following the National party claiming victory at the 2023 election on Saturday night.

New Zealand share prices slipped again as investors took to the sidelines before the election, with a looming battle between Fletcher Building and Western Australia’s BGC and a possible bid for Sky TV being the main talking points.

Uncertainty surrounding Fletcher Building and the upcoming general election made for a quiet day’s trading on the sharemarket on light volume.

New Zealand’s market edged up while Fletcher Building slammed on the trading halt brakes over concerns around an upcoming presentation by an Australian builder concerning issues with its leaky pipes in Western Australia.

New Zealand’s benchmark index brightened up on Tuesday, thanks to international tailwinds pushing the NZ market higher after a volatile day of trading.

New Zealand’s benchmark index slid as investors started the countdown to the election later this week and waited for key US inflation data due this Friday.

Weakness in the big power companies helped drive the sharemarket lower while investors took to the sidelines in the leadup to the release of key United States labour data for September.