0437 GMT - New Zealand's NZX-50 closed a light-volume session 0.5% lower at 13030.31 after broad losses. The main drags on the index were Mainfreight, which continued to retreat from recent highs, power utilities and Auckland International Airport after it flagged debt-raising plans. Property stocks were mixed and retirement-village operators weakened. Stock-market operator NZX was one of the top percentage gainers, rising 1.7% after an upgrade to outperform by Forsyth Barr. Westpac, which has its main listing on the ASX, slumped 6.3% in New Zealand on expectations consensus earnings forecasts will be lowered due to the lower margins that were evident in its FY result. (stephen.wright@wsj.com)
New Zealand Shares Fall 0.5%, Westpac Slides After Result -- Market Talk
The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.