By 1.04pm, the NZX 50 index was down 13 points, or 0.4%, at 3448 on turnover of $38 million.
The Australian 200 was down 40 points, or 1%, to 4194.
The New Zealand dollar was trading at 78.15 US cents, 76.65 Australian cents, 50.42 pence, 61.05 yen and 0.6477 euro.The Trade Weighted Index was at 71.21.
Fletcher Building was down 5 cents to $5.76, Telecom up 1 cent to $2.535, Chorus down 1 cent to $3.14 and Contact Energy was up 2 cents to $4.83.
Sky City Entertainment Group was down 5 cents to $3.47 and Sky Network TV up 2 cents to $4.99.
Fisher & Paykel Healthcare was down 1 cent to $1.93 and The Warehouse down 3 cents to $2.59.
Kirkcaldie & Stains was up 9 cents to $2.80 and Mainfreight up 8 cents to $9.41.
Xero was down 25 cents at $4.90, APN News & Media down 8 cents to 67 cents, Delegats down 7 cents to $2.78 and Ebos was down 5 cents to $7.65.
Ryman Healthcare was down 3 cents to $3.46, Diligent down 2 cents at $4.00 and Goodman Fielder was down 3 cents to 60 cents.