2 Dec 2008

Volatility puts off sharemarket investors

3:27 pm on 2 December 2008

The New Zealand stock exchange says trading has fallen as investors shied away from the market in November.

The value of total trades fell 57% to $1.4 billion during the month compared to the same period a year ago, with average daily trades down 18% to about 2,000.

Turnover was light on the stock market, as many investors stayed away because of the volatility on equity markets globally.

Some individual stocks saw huge changes in their prices, mainly due to warnings about expected earnings in the coming year as the risk rose of a prolonged global downturn.