The benchmark NZX 50 index was down 29 points, or 0.9%, on Monday to close at 3098 on turnover of $55 million.
Fletcher Building was down 18 cents to $7.60, Telecom was unchanged at $2.35, Contact Energy fell 10c to $5.70.
Fisher and Paykel Healthcare was 10 c lower at $3.34.
Sky City Entertainment was down 5c at $3.27, Sky Network Television remained unchanged at $4.85.
NZX was down 15c to $8.60.
New Zealand Oil and Gas fell 9 c to $1.63 after the news that its exploration well, Albacore One, off the Taranaki coast, had not been successful.
The Warehouse dropped 10c to $4.05.
AMP was unchanged at $7.83 as it lifted its offer by 16% to $A6.22 a share for Axa Asia Pacific Holdings.
Allied Farmers rose 1c to 19c.
Australian shares fall half a percent
Across the Tasman, the Australian 200 index was down 22 points, or 0.5%, to 4613.
In currency markets, at 5.23pm the NZ dollar was at 72.18 US cents, 79.64 Australian, 44.54 pence, 63.85 yen, 0.4934 euro, and the Trade Weighted Index stands at 65.01.