NZ shares fall as Aussie lockdown bites

The S&P/NZX 50 Index fell 61.54 points, or 0.5 percent, to 11,666.09. Within the index, 36 stocks fell, six rose, and eight were unchanged. Turnover was unusually light at just $92.8 million.

The index was weaker as investors became concerned the new restrictions, imposed in Victoria, to halt the spread of the covid-19 virus, would hurt Australia's economy.

Yesterday, Premier Daniel Andrews declared a state of disaster and placed the city of Melbourne under another six weeks of lockdown with tough new rules. The decision came after Victoria recorded more than 1,000 cases and 10 deaths from the virus across the weekend.

While the news weighed down the NZ benchmark, Australia’s S&P/ASX 200 made a modest gain of 0.2 percent as listed gold mining stocks rose when the price of gold hit another record, closing in on US$1,980 per ounce.