11 Feb 2009

NZ, Australian markets lower

9:53 pm on 11 February 2009

The New Zealand and Australian markets were down on Wednesday.

The NZX 50 finished was down 20 points, or 0.72%, to 2730 on light turnover of $69 million.

The Australian market closed in negative territory amid waning investor confidence after US stocks tumbled in the biggest sell-off since December.

The benchmark S&P/ASX200 index was down 14.3 points, or 0.41%, at 3,474.4, while the broader All Ordinaries index fell 10.5 points, or 0.31%, to 3,418.1.

The spot price of gold in Sydney was $US911.30 an ounce, up $16.05 on Tuesday's local close of $US895.25.

Japan's financial markets were closed on Wednesday for a national holiday.