New Zealand shares slip as Wall Street sells off

New Zealand shares ended lower on Thursday as Asian markets reflected the impact of a weaker Wall Street close, News.Az reports, citing Yahoo Finance.

The S&P/NZX 50 Index fell 0.39%, or 51.49 points, to close at 13,202.16.

On Wednesday, U.S. markets declined sharply, with the Nasdaq Composite down 1.98%, the Dow Jones Industrial Average falling 1.87%, and the S&P 500 dropping 1.62%.

In domestic economic news, New Zealand’s national asking prices declined 2.5% in May to NZ$833,800 from April, while slipping 0.2% year on year, as price expectations eased and sentiment weakened among both buyers and sellers, according to a Trade Me Property survey.

Cotality said Southland and the West Coast were among the country’s strongest housing markets, while overall property values remained broadly flat nationwide.

In corporate updates, Ryman Healthcare (ASX:RYM, NZE:RYM) confirmed its retail offer for six-year fixed-rate secured unsubordinated bonds has closed, with NZ$150 million allocated to participants in the bookbuild process.

Westpac Banking (ASX:WBC, NZE:WBC) also issued 13 billion yen in tier two subordinated callable instruments maturing in June 2036.

News.Az 

By Nijat Babayev