9 Feb 2018

NZX closes down one percent

6:30 pm on 9 February 2018

New Zealand's sharemarket closed at its lowest level in more than two months but again escaped the battering felt by other markets.

NZX signage on a building in Auckland, 2015.

Photo: 123RF

The benchmark top 50 index fell more than 1.5 percent in early trading, but slowly improved through the day to close down 85 points, or 1 percent.

The falls outnumbered the rises by more than 10 to one, but many of the leading stocks have fallen only a few cents.

So far this week, New Zealand's market has fallen more than 4 percent, and is at its lowest since November.

Most markets around Asia have followed Wall Street, which plunged more than 4 percent overnight.

The expectation is the volatility will hit European and US markets again.

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